Germany looks to deepen economic, energy ties with Turkey

Germany and Turkey intend to deepen their economic ties, German Economy Minister Katherina Reiche said on Friday during a visit to Ankara, highlighting Turkey's role as a commercial, energy and security partner.

"We need Turkey as a reliable trading partner, but also to achieve common political goals," Reiche said on the sidelines of political talks in the Turkish capital.

She drew attention to Russia’s invasion of Ukraine and the war in Iran, which she said she hoped would be brought to a permanent end.

Reiche and the Turkish Minister for Trade, Ömer Bolat, gave a positive assessment of the trade development between the two countries, with the German minister noting that Turkey is the European Union's fifth-largest trading partner.

She said investments by German companies in Turkey were wide-ranging, adding that "the reverse is also true." German investors wanted to further expand their position on the Turkish market in future, Reiche said.

In addition to being an important NATO ally, the German minister also sees Turkey as a valuable partner in Germany's efforts to diversify its gas and electricity supplies, particularly following the global upheavals caused by the closure of the Strait of Hormuz as an oil supply route.

"We cannot just stand by and watch passively," Reiche said. Both sides agreed to expand their energy partnership, established in 2012. "Let us turn today’s challenges into tomorrow’s strengths," Reiche added. 

In response to the recent oil crisis, she argued, there must be a parallel focus on multiple energy sources. Germany and Turkey agree that there must be openness to different technologies – "and openness to everything that companies bring to market." Both sides have set out their energy objectives in a protocol.