Investors prefer Turkey: Deutsche Bank

Banks in Turkey

German companies have been key players in Turkey's economic landscape, having injected a substantial $12 billion into the country over the past two decades.

Deutsche Bank investing in Turkey

With over 8,000 German companies actively engaged in various sectors within Turkey, the recent decision by Deutsche Bank to redirect its investments towards the nation marks a significant shift.

For some time, Deutsche Bank had been cautious about investing in Turkey, but now it has chosen to initiate new investments in the country. The initial focus will be on stock markets and treasury bonds, with plans to expand into other sectors subsequently. This move underscores a growing confidence in Turkey's economic potential.

Trade between Germany and Turkey

Bilateral trade between Germany and Turkey has flourished, surpassing the $35 billion mark. This robust trade relationship serves as a solid foundation for further collaboration between the two nations. Notably, sectors such as energy, finance, and manufacturing have attracted the most significant investments.

Looking ahead, total investments in Turkey are poised to approach an impressive $270 billion by the end of 2024. Moreover, the allure of Turkey's burgeoning economy is expected to draw in more investors from various continents, further bolstering its position as an attractive destination for foreign investment.

DHL Group investing in Turkey

In 2023, Turkey experienced a significant influx of German investment, with notable acquisitions making headlines across various sectors. Among these, the most prominent occurred in July when DHL Group, a global leader in logistics with an expansive workforce of 590 thousand employees worldwide and an impressive turnover of 82 billion euros, finalised the acquisition of 100% ownership of MNG Cargo, one of Turkey's foremost cargo companies.

This strategic move by DHL Group resulted in the transfer of 27 transfer centers, over 800 branches, and approximately 10 thousand employees from MNG Cargo to DHL's operational fold. Such an acquisition not only solidifies DHL's foothold in the Turkish market but also signals a significant expansion of its logistical capabilities within the region.

The acquisition underscores DHL Group's commitment to enhancing its presence in Turkey, a key emerging market with considerable growth potential. By leveraging MNG Cargo's established infrastructure and expertise, DHL aims to further optimise its logistical operations and better serve its clientele across Turkey.

Turkey’s enduring business landscape

This transaction represents a testament to the enduring strength and attractiveness of Turkey's business landscape to global investors. With its strategic location bridging Europe and Asia, robust infrastructure, and dynamic economy, Turkey continues to attract foreign investment across diverse sectors.

As DHL Group consolidates its position as a major player in Turkey's logistics industry, this acquisition is poised to yield mutual benefits for both parties involved. It not only augments DHL's operational capacity but also presents new opportunities for growth and innovation in Turkey's logistics sector, ultimately contributing to the country's economic development and global competitiveness.

As German companies continue to deepen their engagement with Turkey and Deutsche Bank leads the charge with its renewed focus, the stage is set for a mutually beneficial partnership that promises growth and prosperity for both nations.

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