Anadolu staff
19 June 2026•Update: 19 June 2026
Türkiye and Germany signed a new economic cooperation protocol Thursday and reaffirmed their goal of increasing bilateral trade to $60 billion during the sixth meeting of the Türkiye-Germany Joint Economic and Trade Committee, or JETCO, in Ankara.
Turkish Trade Minister Omer Bolat and German Economy and Energy Minister Katherina Reiche attended the meeting and a roundtable with business representatives from both countries at the Trade Ministry.
Bolat said the talks focused on trade, investment, industrial cooperation, energy transition, green and digital transformation, transportation, connectivity and cooperation opportunities in third countries.
Trade target set at $60B
He said the meeting underscored the strength of the economic partnership between the two countries, which he described as being built on deep-rooted ties, mutual trust and shared interests.
Germany is one of Türkiye's most important investment partners and strategic allies, Bolat said, noting that bilateral trade exceeds $52 billion.
Germany is Türkiye's largest export market, third-largest source of imports and one of its leading foreign investors, he added.
Turkish companies have invested nearly $3 billion in Germany, while German companies rank first among foreign investors in Türkiye, operating about 8,600 firms and holding $26.5 billion in direct investments, according to Bolat.
Customs Union, visas discussed
Bolat said the protocol records progress achieved by both sides and provides a roadmap for future cooperation.
The ministers also discussed the modernization of the Türkiye-EU Customs Union.
"As the EU shapes new trade, industrial and sustainability policies, including the 'Made in EU' framework, it is vital that these initiatives remain inclusive," Bolat said.
"These policies must strengthen the highly integrated supply chains built over decades," he added.
Visa facilitation was also on the agenda, particularly Germany's "cascade" visa system, which Bolat said has helped improve visa appointment and application procedures since July last year.
"Visa rejection rates have fallen from around 25% to 14%. At this point, the German side plans to accelerate the process regarding businesspeople, students, artists, NGO members and transporters," he said.
"We once again emphasized our justified demands for visa-free travel for Turkish citizens," he added.
Germany sees Türkiye as reliable partner
Reiche said the two countries were operating in a challenging geopolitical environment, making stable and trust-based cooperation increasingly important.
She described Türkiye as a reliable partner for Germany and noted that it is the European Union's fifth-largest trading partner.
Germany's trade with Türkiye accounts for about one-quarter of the bloc's total trade with the country, she said.
Reiche said both countries share an interest in supporting economic growth, expanding joint investments and encouraging further German investment in Türkiye.
She added that investor confidence remains strong, with German companies maintaining their presence in Türkiye while expanding existing operations and launching new investments.
