WORLD ECONOMY

German firms want to expand business in Turkey: Expert

Last year, $43.9M trade took place between both countries, says German-Turkish Chamber of Commerce and Industry head

Anadolu Agency

The biggest investments in Turkey were made by businesses owned by German families, head of the German-Turkish Chamber of Commerce and Industry (AHK Turkey) said Tuesday.

Markus C. Slevogt said 860 companies were members of the chamber and many German firms wanted to expand business in Turkey.

Last year, 37.5 billion euros ($43.9 million) of bilateral trade took place between the two countries, he said, adding that this year the figure may show a slight decrease.

"Turkey has potential, because it has a young population and its geographical position is good," said Slevogt.

"The Turkish economy is becoming a new business model. [It is] a knowledge-based economy that generates its own competitive advantages," he added.

He said that Turkey understands its trade partners.

"I hope that Turkey and the European Union will take steps together and understand each other better," he added.

The German-Turkish Chamber of Commerce and Industry was founded in 1994.

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