Ankara, Berlin aim to reach $50B trade vol­ume

Daily Sabah (Turkey) - - Business - IS­TAN­BUL / DAILY SABAH

DEPUTY Trade Min­is­ter Gonca Yıl­maz Batur said yes­ter­day that Ger­many is Turkey’s most im­por­tant trad­ing part­ner in Europe, adding that the two coun­tries aim to reach a $50 bil­lion trade vol­ume in the long run.

“We be­lieve that the po­ten­tial be­tween the two coun­tries will neu­tral­ize the neg­a­tive ef­fects of the COVID-19 epi­demic soon and we will bring the trade vol­ume to its pre­vi­ous lev­els. We want to reach a $40 bil­lion trade vol­ume ini­tially, then $50 bil­lion in the long run,” she said at a Turk­ish Foun­da­tion for Po­lit­i­cal, Eco­nomic and So­cial Re­search (SETA) meet­ing on bi­lat­eral trade.

Batur re­called that bi­lat­eral trade was $35.9 bil­lion at the end of 2019, and gave good sig­nals in the first two months of 2020 but de­clined in the Jan­uary-July pe­riod due to the epi­demic. She also em­pha­sized the sig­nif­i­cance of up­dat­ing the cus­toms union be­tween Turkey and EU, voic­ing ex­pec­ta­tions for sup­port from Ger­many.

Turk­ish and Euro­pean of­fi­cials have over the last couple of years been car­ry­ing out talks fo­cused on re­vis­ing the cur­rent cus­toms union agreed upon be­tween both par­ties. Al­though talks have been stalled as a re­sult of po­lit­i­cal ten­sions over the last three years, business cir­cles and of­fi­cials from both sides have en­deav­ored to main­tain di­a­logue.

Not­ing that Turkey gives par­tic­u­lar im­por­tance to the Turkey-Ger­many Eco­nomic and Trade Com­mit­tee (JETCO), Batur said they want to hold the next meet­ing be­fore the year-end. The deputy min­is­ter also noted that Turk­ish-Ger­man cooperatio­n can be moved to third coun­tries, where busi­ness­peo­ple would work to­gether.

Ger­many was Turkey’s top ex­port mar­ket in the Jan­uary-Au­gust pe­riod of this year, with $9.76 bil­lion, ac­cord­ing to Turk­ish Sta­tis­ti­cal In­sti­tute (TurkS­tat) data on Wed­nes­day. It also came in sec­ond af­ter China among Turkey’s top im­port mar­kets in the said pe­riod with $12.64 bil­lion, the data showed.

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