WNAM REPORT: The sixth session of the Türkiye-Germany Joint Economic and Trade Committee (JETCO), along with roundtable meetings attended by business representatives from both countries, was held at the Turkish Ministry of Trade.
As part of efforts to further strengthen bilateral commercial relations, Turkish Trade Minister Ömer Bolat and German Minister for Economic Affairs and Energy Katherina Reiche signed the “Türkiye-Germany JETCO Protocol.”
Speaking at the meeting, Bolat said the gathering had once again demonstrated the strength and resilience of the economic partnership between the two countries, which is built on deep-rooted ties, mutual trust and shared interests.
Emphasizing that Germany is one of Türkiye’s most important investment partners and strategic allies, Bolat said the two countries aim to increase their bilateral trade volume to $60 billion.
He noted that Germany is Türkiye’s number one export market, its third-largest source of imports and one of its leading foreign investors.
Bolat pointed out that mutual investment relations continue to represent a major success story, revealing that Turkish companies’ investments in Germany have approached $3 billion.
Noting that Germany is also the largest economy in the European Union, Bolat said Türkiye has become an indispensable manufacturing, logistics and supply hub for Europe. He added that approximately 70 percent of foreign direct investment in Türkiye originates from EU countries.
The automotive industry, he said, is among the strongest examples of this integration.
“With an installed capacity of approximately two million vehicles, annual production of 1.5 million units and exports exceeding $41.5 billion, Türkiye has become Europe’s fourth-largest and the world’s 12th-largest automotive production center,” Bolat said.
The minister also stressed the need to modernize the EU-Türkiye Customs Union in line with today’s economic realities.
“As the European Union shapes new trade, industrial and sustainability policies, including the ‘Made in EU’ framework, it is vital that these initiatives remain inclusive. It is essential that these policies strengthen the highly integrated supply chains that have been built over decades,” he said.
Bolat added that the JETCO Protocol signed today formally records the progress achieved and the commitments undertaken by both sides.
“The protocol highlights the activities carried out by our dedicated working groups and provides a roadmap for our future cooperation,” he said.
The minister also emphasized the role of Turkish contractors in Germany, noting that they have successfully completed 397 projects with a total value exceeding $2.8 billion.
“The combination of Turkish implementation experience with German engineering and financing capabilities can create strong partnerships both between our two countries and in third markets,” Bolat said.
He identified the energy sector as another promising area of cooperation.
“We are witnessing successful Turkish-German partnerships in renewable energy investments in Türkiye. We believe these success stories will multiply in the coming years and create new opportunities for investors, financial institutions and technology providers in our countries,” he added.
German Minister for Economic Affairs and Energy Katherina Reiche, for her part, highlighted the challenging geopolitical environment facing both countries, saying that stable and trust-based cooperation between Türkiye and Germany has become a pillar of strength in this context.
Emphasizing that Türkiye is a reliable partner for Germany, Reiche said:
“Türkiye is the European Union’s fifth-largest trading partner, and its trade with Germany accounts for one-quarter of all EU-Türkiye trade. This serves our shared interest in growing our economies, making joint investments and increasing German investments in Türkiye.”
Reiche said Germany remains a strong market and stressed the importance of the Turkish market in protecting the interests of both countries.
“Our investors’ confidence in Türkiye’s strength and market remains intact. German companies are maintaining, increasing and undertaking new investments in Türkiye,” she said.
Speaking to reporters after the meetings, Bolat described the discussions as positive, constructive and promising for the future.
He noted that Türkiye-Germany relations are progressing well in both political and economic spheres and said the leaders of the two countries remain in close contact.
Highlighting that bilateral trade has already exceeded $50 billion, Bolat said:
“German companies rank first among foreign investors in Türkiye, with 8,600 investors and $26.5 billion in direct investments. These investments have created hundreds of thousands of jobs and generated tens of billions of dollars in exports for Türkiye.”
Bolat also emphasized that Turkish investors in Germany are highly active in terms of employment and exports.
He said the issue of the “Cascade Visa Application System” was also discussed during the meetings.
According to Bolat, the system has led to improvements in visa appointments and applications since July 2025.
“Visa rejection rates have declined from around 25 percent to 14 percent. The German side plans to accelerate procedures for businesspeople, students, artists, NGO representatives and transport operators,” he said.
Bolat added that Türkiye once again underlined its legitimate demand for visa-free travel for Turkish citizens.
Regarding EU-related issues, he said the German side had clearly expressed its support for updating the Customs Union.
“Especially at a time when protectionist trends are gaining momentum around the world, they clearly stated that they support preventing any damage to economic, industrial and trade relations with Türkiye during Europe’s industrial transformation and efforts to enhance competitiveness. They also affirmed that they would adopt a position aimed at preventing any harm to economic relations between Türkiye, the EU and Germany,” Bolat said.
