Türkiye and Germany have signed a new economic cooperation protocol and reaffirmed their ambition to raise bilateral trade to $60 billion, underscoring the strength of one of Europe's most significant economic partnerships.
The agreement was reached during the sixth meeting of the Türkiye-Germany Joint Economic and Trade Committee (JETCO) on Thursday in Ankara, attended by Turkish Trade Minister Omer Bolat and German Economy and Energy Minister Katherina Reiche.
The ministers also met with business representatives from both countries to discuss opportunities for expanding economic cooperation across a range of sectors.
Bolat said the talks covered trade, investment, industrial cooperation, energy transition, green and digital transformation, transportation, connectivity and joint projects in third countries.
"The meeting once again demonstrated that our economic partnership is built on deep-rooted ties, mutual trust and shared interests," he said.
Bilateral trade currently exceeds $52 billion, with Germany remaining Türkiye's largest export market, third-largest source of imports and one of its leading foreign investors.
Trade, investment and mobility in focus
Bolat said the newly signed protocol records progress achieved so far and provides a roadmap for future cooperation.
According to the Turkish minister, Turkish companies have invested nearly $3 billion in Germany, while German investors operate around 8,600 companies in Türkiye and hold direct investments worth $26.5 billion.
The ministers also discussed modernisation of the Türkiye-European Union Customs Union, with Bolat stressing the importance of maintaining inclusive trade and industrial policies as the EU develops new economic frameworks.
Visa facilitation was another key topic, particularly Germany's "cascade" visa system, which Ankara says has improved access for Turkish applicants.
Bolat noted that visa rejection rates for Turkish citizens have fallen from roughly 25 percent to 14 percent and said Germany plans to further accelerate procedures for businesspeople, students, artists, civil society representatives and transport workers.
He reiterated Türkiye's longstanding call for visa-free travel for Turkish citizens.
Germany calls Türkiye a reliable partner
Reiche described Türkiye as a reliable partner for Germany at a time of geopolitical uncertainty and economic transformation.
She noted that Türkiye is the European Union's fifth-largest trading partner and that Germany accounts for roughly one-quarter of the bloc's total trade with the country.
Both sides share a common interest in promoting growth, increasing mutual investment and encouraging further German business activity in Türkiye, she said.
Reiche added that investor confidence remains strong, with German companies continuing to expand existing operations and launch new projects in the Turkish market.
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