HISTORICAL AGREEMENT BETWEEN DEİK AND GERMAN CHAMBER OF COMMERCE AND INDUSTRY (DIHK)
Germany-Turkey Roundtable Meeting and the Signing Ceremony of the Cooperation Agreement between DEİK and German Chamber of Commerce and Industry (DIHK), held in Germany's capital Berlin on May 8,2017. The Meeting was attended by Turkish Economy Minister Nihat Zeybekci, DEİK/Turkey-Germany Business Council's President Steven Young and DIHK's CEO Marting Wansleben.
Turkish Economy Minister Nihat Zeybekci, expressed that Germany is Turkey's top export market and that Germany is the second largest import market for Turkey during his opening speech in the Roundtable Meeting. He drew attention to the fact that this situation has been a long-standing tradition, "Germany is the number one economic and trade partner" said Zeybekci during his speech. He expressed that currently, 7.000 German-capital companies operate in Turkey; "Germany is the sixth largest country, which made the largest foreign direct investment in Turkey since 2002, with total investment of 9 billion USD".
Zeybekci highlighted that Turkish business community faces difficulty in attaining visa for expeditions, business trips. The efforts to solve this problem continue as well as the studies on the revision of Custom Unions. The Minister expressed his wish for a smooth process with European Union to succeed in the update of Customs Union.
Business communities of both countries are responsible to unleash the potential between two countries. "As both communities start to trust each other and to establish more partnerships, relations will ameliorate. Our bilateral trade with Germany holds great significance for our country thus we work hard to develop further" expressed Minister Zeybekci.
DEİK's Turkish-German Business Council's President Steven Young said: "Today is an important day for all of us. Turkish-German Business Council, for the first time in its history joined forces with a strong partner organization, DHIK. This venture represents a great opportunity for business worlds on both sides as DEİK fully represents Turkish private sector on one hand, and DHIK being the most influential business organization in Germany".
DEİK's Young also mentioned 3 millions of Turkish-origined citizens living in Germany and said those millions do see Germany as ‘home'. Stressing on the importance of deeply rooted social and economic ties between Turkey and Germany, DEİK's Turkish-German Business Council President Steven Young highlighted the fact that Germany ranks number one on Turkey's trade with the world with bilateral economic relations amounting to 35 billion USD. Steven Young also said that DEİK and DIHK will work together to decide on areas of cooperation in a speedy and decisive manner and will spend effort to bring business representative from both sides together.
DIHK CEO Martin Wansleben said that long-established relations between two countries will get stronger as business community from both countries meet and will form a healthy economy. He further added that DEİK is the most suitable institution for DIHK in terms of cooperation and bilateral relations will continue in great sustainability.
Within the meeting an Agreement of Cooperaton is signed between DEİK and DIHK. As a result of this agreement, DEİK/Turkey-Germany Business Council has established its Counterpart and founded a significant platfrom. It is intended to improve trade and economic relations as a result of the partnership between Germany's most encompassing and powerful instution DIHK and DEİK.
Turkey-Germany Bilateral Trade (Ministry of Economy- 2016)
Turkey's export to Germany: 14 billion US Dollar
Main export items: Motor parts and components, motor vehicles, parts and components for vehicles, textiles, monitors
Turkey's import from Germany: 21.4 billion US Dollar
Main import items: Vehicles, parts and components for vehicles, helicopters, aircraft, medicine.
Total Trade Volume: 35.4 billion US Dollar
Trade Balance: 7.4 billlion USD in favor of Germany