Union of Chambers and Commodity Exchanges of Turkey

Hisarcıklıoğlu, in his speech at the Turkey-Germany Economic Dialogue meeting held in the German capital, Berlin, stated modernization of the Customs Union would give a new impetus to Turkish-German economic relations.

Stating that protectionism and populism are the biggest obstacles to the business world, Hisarcıklıoğlu pointed to the European Union (EU) as the best example of solidarity established after WWII. Stating that it showed solidarity of German businessmen in continuing to invest in Turkey following the July 15^th coup attempt Hisarcıklıoğlu went on:

“Germany is Turkey's most important trade partner. The number one trading partner. Our trade volume is about 35 billion euros. At the same time Germany is the most important investor to Turkey. Currently, 7,110 German companies are operating in Turkey. The amount of foreign direct investment from Germany to Turkey in 2002-2017 reached 8 billion euros. during the same period, direct investment of around 2 billion euros was made from Turkey to Germany.

The 3.5 million Turkish citizens living in Germany, most of whom are German citizens, serve as bridges between our countries. We are proud of their integration into German society and the German economy. You can see the greatest feature of Turkish people in these 3.5 million people. Today, the descendants of those who arrived as workers are entrepreneurs; they run workplaces and establishes production facilities. This is great success. It increases Germany's production, employment and contributes to its economic growth. Around 80,000 Turkish-born German entrepreneurs operate in 50 different sectors in Germany. As of 2017, Turkish entrepreneurs have achieved a turnover of approximately 52 billion euros. They conduct business in Germany, contributing to the German economy. At the same time, it provides over 500,000 jobs.”

- “Continue to rely on Turkey”

Stating that during this period, the integration of Turkey in Europe is important for all of Europe and especially Germany, Hisarcıklıoğlu said, “Let me give one striking example of this: Today, the EU imports most of its automobiles from Turkey. Japan is second, Korea third, and the USA fifth. On the other hand, it exports the most to US and China followed by Turkey, ranked third. The economies of the two countries are intertwined. If we work together we will win together. So we really are each other's partner; we should support each other.”

Stating that modernization of the Customs Union would give a new impetus to Turkish-German economic relations, Hisarcıklıoğlu said, “Those who trusted in Turkey and invested, won. Don’t miss this opportunity. I invite German businessmen to invest in Turkey. Turkey and Germany are two major economic powers in Europe. Our friendship and our partnership with Germany has deep roots. Those who invest in Turkey today will be tomorrow's winners. Continue to trust in Turkey.

- Protectionism is concerning

German Industry and Commerce Association (DIHK) President Eric Schweitzer also noting the importance of events such as the Turkey-Germany Economic Dialogue, “Today, the German economy is open to you as well as our hearts.”

Schweitzer stressed that what is important for business people is prosperity, stability and peace, with trust in each other as the most important factor among them.

Schweitzer stated that, in the age of globalization and digitalization, most economies are oriented towards protectionism, which is concerning to them.

- “German businesspeople have not lost their interest in Turkey”

Turkey's ambassador to Berlin, Ali Kemal Aydin pointed to the importance of economic dialogue meetings, “Turks and Germans need to be involved in more conversation and dialogue, not just in the economic field. We need empathy and solidarity. Our relationships have gone through difficult tests in the last few years. Normalization process will gain more momentum with mutual visits. We are entering a new and intense period in the economic field.

Pointing out that German businesspeople have not lost their interest in Turkey despite difficult times, Aydın emphasized the need to raise awareness in Germany in regards to Turkey's business and investment potential.

- Erdoğan and Albayrak will visit

Hisarcıklıoğlu and the delegation of businesspeople led by him has been conducting meetings in Berlin. sessions held with the participation Turkey and Germany's leading companies and public institutions assessed problems encountered in investment and shared their proposals for solutions.

TOBB’s contacts in Germany will be followed by visits by the President of Turkey Recep Tayyip Erdoğan and the Treasury and Finance Minister Berat Albayrak. It is expected that Minister Albayrak and then President Erdoğan will visit Germany to discuss matters of politics, security, diplomacy and economy as well as sign various agreements.