ECONOMY

Germany eyes closer economic ties with Turkey - official

Germany and Turkey are seeking closer economic ties and have established five joint working groups to boost cooperation, a senior government official said.

Oliver Wittke, Parliamentary State Secretary at the Federal Ministry for Economic Affairs and Energy, told reporters Turkey remains an important country for German firms and investors.

"It is in Germany's interest to see that Turkey's economy is doing well, because we are the most important trade partner of Turkey," he said. "We can do more business with Turkey, if there will be good and positive economic development in the country."

Wittke said renewable energy, advanced technologies and artificial intelligence are areas which offer mutually beneficial cooperation for both countries.

He said five joint working groups on industry, trade, infrastructure, tourism and partnership projects in third countries, have intensified their work in recent weeks, ahead of planned joint conferences on economy and trade this year.

Germany remains Turkey's main economic and trade partner. In 2018, the bilateral trade volume slightly decreased to €32.5 billion ($36.5 billion) compared to the previous year. Around 7,500 German companies are currently active in Turkey.

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