Turkish president to host German monopolies

Peter Altmaier, the Federal Minister of Germany for Economic Affairs and Energy, will also participate in the meeting
Tuesday, 23 October 2018 22:49

Turkish President Recep Tayyip Erdoğan will meet with the CEOs of approximately 90 German monopolies including Siemens, BMW and Bosch at his presidential palace on Oct 25.

Erdoğan will host the CEOs of nearly 90 biggest German companies at his presidential complex. Peter Altmaier, the Federal Minister of Germany for Economic Affairs and Energy, will also participate in the meeting.

During the meeting, Turkish authorities and the CEOs of the German companies will discuss the new investments in Turkey and the incentives to be provided by the government.

Altmaier will visit Turkey with a delegation of German capitalists for the first round of the Turkish-German Joint Economic and Trade Commission which was decided to be formed five years ago.

The senior executives of companies having an investment in Turkey such as Siemens, Mercedes, Bosch, BMW, SAP and EON will participate in the meeting.

In late September 2018, Erdoğan had met with representatives from the German capital in Berlin. In this visit, Erdoğan and Altmaier had decided to promote economic relations between Turkey and Germany.

The bilateral trade volume between Turkey and Germany was $36,4 billion in 2017, which corresponds to an increase of 3,1 percent compared to the previous year.

In 2017, Turkey’s exports to Germany increased to $15,1 billion and imports from Germany slightly decreased to $21,3 billion.

During the period between 2002 and April 2018, direct investments from Germany to Turkey have been $9,2 billion.