Ankara, June 19 – The 6th Term Joint Economic and Trade Committee (JETCO) meeting between Turkey and Germany, along with a round table discussion involving business representatives from both countries, took place at the Ministry of Trade in Ankara yesterday. The meeting aimed to further develop commercial relations between the two nations.
Turkey-Germany JETCO Protocol Signed
During the meeting, a “Turkey-Germany JETCO Protocol” was signed between Trade Minister Ömer Bolat and Germany’s Minister of Economy and Energy, Reiche. Bolat stated that the meeting once again demonstrated the strength and resilience of the economic partnership between the two countries, which is built on deep ties, mutual trust, and common interests.
Highlighting Germany as one of Turkey’s most important investment partners and strategic allies, Bolat emphasized that the target for bilateral trade volume is 60 billion dollars. He also noted that Germany is Turkey’s number one export market, the third-largest import source, and a leading foreign investor.
Turkish Investments in Germany Approach 3 Billion Dollars
Bolat pointed out that mutual investment relations continue to be a great success story, with Turkish investments in Germany approaching 3 billion dollars. He added that Germany is also the largest economy in the European Union (EU), and Turkey has become an indispensable production, logistics, and supply center for Europe. Approximately 70 percent of direct foreign investments in Turkey originate from the EU.
The automotive industry serves as one of the strongest examples of this integration, Bolat noted. Turkey, with an installed capacity of approximately 2 million vehicles, an annual production of 1.5 million units, and exports exceeding 41.5 billion dollars, ranks as Europe’s 4th and the world’s 12th largest automotive production center.
JETCO Protocol: A Roadmap for Future Cooperation
Bolat stated that during the meeting, the need to modernize the Customs Union in line with current economic realities was expressed. He further elaborated: “As the EU shapes its new trade, industry, and sustainability policies, including the ‘Made in EU’ framework, it is vital that these initiatives remain inclusive. These policies must be inclusive and strengthen the highly integrated supply chains built over decades. The JETCO Protocol signed today officially records the progress made 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.”
Bolat stressed that Turkish contractors have successfully undertaken 397 projects in Germany, totaling over 2.8 billion dollars. He believes that combining Turkish implementation experience with German engineering and financing capabilities can create strong partnerships in both countries and in third markets.
The energy sector was also highlighted as a promising area for cooperation. Bolat stated, “We are witnessing successful Turkish-German partnerships for renewable energy investments in Turkey. We believe that these success stories will multiply in the coming years, creating new opportunities for investors, financial institutions, and technology providers in our countries.”
Germany’s Confidence in Turkish Market Continues
Germany’s Minister of Economy and Energy, Reiche, noted that both countries face challenging geopolitical environments. In this context, he said, the stable and trust-based cooperation between Turkey and Germany serves as a stronghold. Reiche emphasized that Turkey is a reliable partner for Germany, stating, “Turkey is the EU’s 5th largest trading partner, and its trade with Germany accounts for a quarter of all EU trade. This is a common interest for the growth of our economies, making joint investments, and increasing German companies’ investments in Turkey.”
Reiche affirmed that Germany is a strong market and the Turkish market is of great importance for protecting the interests of both countries. “Our investors’ confidence in Turkey’s strength and market continues. German companies are maintaining, increasing, and making new investments in Turkey,” he said.
German Firms Lead in Turkey with 8,600 Investors
Following the meetings, Minister Bolat told reporters that the discussions were positive, constructive, and promising for the future. He stated that Turkey-Germany relations are progressing very well in both political and economic spheres, with leaders from both countries working closely together.
Bolat highlighted that the mutual trade volume between the two countries exceeds 50 billion dollars. “German firms rank first in Turkey with 8,600 investors and have 26.5 billion dollars in direct investments. These investments contribute to hundreds of thousands of jobs and tens of billions of dollars in exports for Turkey,” he said.
Similarly, Turkish investors are also very active in Germany in terms of employment and exports. Bolat explained that the “Cascade Phased Visa Application” was also discussed during the meetings.
Bolat noted that this application has led to improvements in visa appointments and applications since July 2025. He stated, “Visa rejection rates have decreased from 25 percent to 14 percent. At this point, the German side plans to accelerate the process for business people, students, artists, NGO members, and transporters. We once again emphasized our legitimate demands for visa-free travel for Turkish citizens. Regarding EU matters, they clearly stated their support for the modernization of the Customs Union. Especially in a period when protectionist winds are gaining speed worldwide, they clearly expressed their stance against harming economic, industrial, and commercial relations between Turkey and the EU and Germany in various institutional and legal efforts to transform industries and increase competitiveness in Europe.”
Source: https://www.trthaber.com/haber/ekonomi/turkiye-almanya-jetco-6-donem-toplantisi-ankarada-gerceklestirildi-948732.html
