At the "German-Turkish Business Summit" within the Hanover Fair, Federal Environment Minister Sigmar Gabriel stressed the exceptional potential for cooperation with Turkey in both the area of environment and energy. "In view of its investment potential successful German-Turkish environment cooperation - with investments of around 800 million euro up to now - must be continued and further expanded. Together we must find creative financing options in cooperation with business and industry and international financing institutions". It is estimated that the investment required for harmonisation with European community legislation in the area of environment protection will amount to 70 billion euro by 2025. Turkey estimates that the investment required to secure its energy supply will amount to 100 billion euro by 2020.
Minister Gabriel called for a more efficient use of European funding. He said: "I am glad about the European Commissions initial signals on this issue". Against the backdrop of the preconditions already in place for accession negotiations in the energy sector, Minister Gabriel stressed the importance of cooperation in this field: "We are in an excellent starting position vis-à-vis all areas currently under discussion in Turkey such as the construction and modernisation of coal power plants, the expansion of heat-power-cogeneration and the opening-up of the enormous renewable energies potential. With a view to the required investment volumes of billions of euro, German industry is well advised to back Turkey in its accession process to the European Union".
Minister Gabriel highlighted the benefits for Germany in cooperation with Turkey, inter alia the high number of German companies in Turkey and the increasing number of employees of Turkish origin in German companies. However, he also emphasised that Germany is also facing increased competition in Turkey, for instance from Japan and China, and stressed the subsequent need for German environment technology industry to ensure a particularly strong positioning.