This website uses cookies primarily for visitor analytics. Certain pages will ask you to fill in contact details to receive additional information. On these pages you have the option of having the site log your details for future visits. Indicating you want the site to remember your details will place a cookie on your device. To view our full cookie policy, please click here. You can also view it at any time by going to our Contact Us page.

German machinery industry turns to Turkey

03 April 2012

With demand from the BRIC states and Germany’s neighbours currently slowing down, Germany's machinery and equipment industry is increasingly focusing on Turkey.

According to Germany Trade & Invest experts now is the time for Turkish companies to expand in Germany. Jerome Hull, machinery industry expert at Germany Trade & Invest in Berlin, said: "Germany is traditionally one of the most important destinations for Turkish FDI. The two countries have inseparable ties that span several decades. With Turkey's booming economy and Germany’s reputation for high quality machinery, the timing couldn't be better."
Currently, machinery leads all other goods imported from Germany. According to the industry association VDMA, 36% of machines in Turkey come from Germany and this figure continues to grow.

However, Turkish companies are also looking to Germany for more than just trade. "The Made in Germany" label is one of the keys to success in this industry. A growing number of companies from rapidly developing countries like Turkey are interested in investing in Germany to obtain the seal of quality for their products," continued Hull.

Although FDI from Turkey in Germany pales in comparison to German investments in Turkey, the trend is upward. Since 2003, over 40% of Turkish investment projects in western Europe went to Germany. Currently approximately 600 Turkish companies are registered in Germany.
"Just as Turkey is a hub between Europe and the Middle East, Turkish companies can invest in Germany and serve the entire European market from a central location," concludes Hull.


Most Viewed Articles...

Print this page | E-mail this page