Wednesday, August 10, 2016

Crisis in Turkey damper for German economy on exports to Turkey – FAZ – Frankfurter Allgemeine Zeitung

Only gave Erdogan Turkey an economic boom, now he makes for uncertainty.

the German Industry and Commerce (DIHK) is concerned by the recent events after the coup attempt in the Turkey put a damper on the German economy. “The DIHK originally expected this year with a significant growth of German exports to Turkey by five to ten percent,” said the Foreign Trade and head of the organization, Volker Treier, the “Passauer Neue Presse” on Wednesday. Now disillusionment make wide.

According to the Treier DIHK is now “at best, a stagnation of exports”. Last year, the export volume to Turkey came in at 22.4 billion euros. If this would be achieved in 2016, which was to be regarded as a success already. “Currently, however, ensure terrorist threats, and political uncertainty in Turkey uncertainty among German companies,” Treier said. “This is more than a damper. Future projects will be put on hold, many companies wait and see. Capital is withdrawn. “But Turkey remains an important economic partner for German companies. “It is therefore important to keep as many channels open through which we can keep up the dialogue with Turkey,” warned the DIHK foreign trade boss.

A survey of the German-Turkish Chamber of Commerce in Istanbul According to German companies are feeling first impairments of their businesses. This was followed by some 20 parties with more than 1000 employees in the survey, including automotive, energy, chemical and engineering companies. Nearly one third of companies have the question of whether the current political situation affects their business, answered “yes”, 42 percent said “maybe”. Every fifth company expects reported to lower annual results than expected, as many do not want to re-invest in Turkey. Almost all, namely 95 percent, however, want to therefore remain in the Turkish market.

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mid July had failed in Turkey a coup attempt by sections of the military against Recep Tayyip Erdogan. Erdogan responded by state of emergency, a wave of arrests and mass dismissals of officials. In the EU, its approach encounters sharp criticism. The rating agency Standard & amp; Poor’s downgraded Turkey as “high-risk” country a.

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