Turkey, Germany agree to develop energy projects

Turkish, German energy ministers sign letter of intent at Turkish-German Energy Forum in Ankara

Turkey, Germany agree to develop energy projects

Turkish and Germany energy ministers on Friday signed a letter of intent to develop energy projects.

The document was signed at the Turkish-German Energy Forum held in Turkish capital Ankara.

Speaking at the signing ceremony, Turkey's Energy and Natural Resources Minister Fatih Donmez said: "I believe wholeheartedly that we will further develop our bilateral cooperation, which has already reached a certain level, by continuing our works in a speedy and result-oriented manner in the areas that this letter of intent covers."

 Donmez added that over the last 15 years, German companies had invested approximately €25 billion in the Turkish energy sector, and created over 15,000 jobs.

"The high investment amount demonstrates the confidence of German companies and investors in both the sector and the Turkish economy at large," he said, adding the German businesses had made significant contributions especially in the renewables sector.

German Economy and Energy Minister Peter Altmaier is on a two-day visit to Ankara. On Thursday, he attended the Joint Economic and Trade Committee (JETCO) meeting along with Turkey's Trade Minister Ruhsar Pekcan. Later on Friday, he will meet Turkey's Industry and Technology Minister Mustafa Varank.