Search
Close this search box.
Search
Close this search box.

Economic Reforms in Trkiye Expected to Have Positive Impact on EU Relations

Ankara: Economic reforms in Trkiye are expected to have ‘a positive effect’ as the ‘overall situation in Trkiye is, besides inflation, quite good,’ Martin Wambach, managing partner at German consultancy firm Rodl and Partner, told Anadolu.

According to Anadolu Agency, Wambach believes that having a full customs union with the EU would “help a lot” for Trkiye because steel, coal, and some agricultural products are not currently included in the union. He noted that negotiations are ongoing and expressed optimism that economic reforms would yield beneficial outcomes.

Rodl and Partner, established in Germany 40 years ago, provides financial services to European and non-European businesses and operates 110 offices in 50 countries. The firm entered the Turkish market in 1999, recognizing it as a dynamic and fascinating environment. Wambach described the decision to invest in Trkiye as very advantageous.

Wambach highlighted several reasons for German and European businesses to invest in Trkiye, including its growing market and population, its validity as a production site with investment opportunities and tax-free zones, and its strategic position as a bridge between Europe and eastern states. He also noted that Istanbul is a crucial business hub with extensive global connections through Turkish Airlines.

The IT and e-commerce sectors in Trkiye are experiencing rapid growth, driven by a young and skilled workforce. Wambach emphasized that despite economic and political challenges in Germany, business opportunities remain vital, particularly in the IT and AI sectors, where there is a high demand for young talent-an area where Trkiye excels.

Germany and Europe are the largest investors in Trkiye, and Rodl and Partner serves about 1,000 European firms that have invested in the country. Wambach stressed the importance of leveraging the strong relationships between Trkiye and both Germany and Europe. He also suggested that more mergers and acquisitions between Turkish and European firms are necessary as interest in Trkiye grows and Turkish businesses continue to expand globally.