MediaMarkt store
German consumer electronics retailer MediaMarkt is doing well in Turkey and is a long-term investor in the country, said a top company executive Tuesday.
"We have achieved a significant market share in the consumer electronics market in Turkey," said Pieter August Haas, the CEO of German MediaMarktSaturn Retail Group and the Ceconomy Group.
The MediaMarkt chain is well positioned in Turkey, Haas told investors via teleconferencing.
Germany is Turkey’s “most important trading partner,” an official of Germany’s Ministry for Economic Affairs and Energy said."Germany is Turkey's most important trading partner, and the trade volume between the two countries is 37.7 billion euros ($43 billion)," Beate Baron, the Ministry’s spokeswoman, said at a news conference in Berlin.Baron said an assessment on whether the recent developments in Turkey would affect Germany could not be made at the moment.Jeannette Schwamberger, spokeswoman for Germany’s Finance Ministry, said she has no information on whether the developments in Turkey will be discussed among the G20 members or whether a meeting would be held on the issue.Schwamberger noted that the issues of currency and financial stability are monitored and analyzed by the relevant institutions and that the German Finance Ministry would not make an assessment on this issue.Turkey facing serious speculative attack: Banker'Germany would like to see an economically prosperous Turkey'Turkish minister hails Germany’s stance on US sanctions
'Germany is Turkey's most important trading partner'
The group operates more than 1,020 stores in 14 countries, including Germany, Austria, Italy, Switzerland, Hungary, Poland, Spain, the Netherlands, Belgium, Portugal, Luxembourg, Greece, and Sweden.
Sixty-eight of these stores are located in Turkey.
The group’s overall third quarter 2017 sales fell 1 percent to €4.59 billion, while Ceconomy's online sales rose 21 percent.
Chancellor Angela Merkel said on Monday that Germany wants to see economic prosperity in Turkey and that Ankara should ensure the independence of its central bank."Noone has an interest in an economic destabilisation in Turkey. But everything must be done to ensure an independent central bank," Merkel said during a news conference in Berlin when asked about the economic situation in Turkey."Germany would like to see an economically prosperous Turkey. This is in our interest," Merkel added.Erdoğan: Turkey’s economic dynamics are solidTurkey-US relations: From visionary to myopicHow Turkey should respond to US’s economic war
'Germany would like to see an economically prosperous Turkey'
Germany has an interest in a stable Turkish economy and is monitoring the situation closely, a government spokesman said, when asked about the Turkish currency.A spokeswoman for the German finance ministry said there had been no crisis talks among members of the G20 industrialised countries on the situation.The spokeswoman said it was too early to comment on the exposure of German companies to the economic situation in Turkey, and declined to assess the latest developments there.Broad basket of currencies losing ground against dollarTurkey and the U.S. are currently experiencing rocky relations following Washington’s imposition of sanctions on Interior Minister Süleyman Soylu and Justice Minister Abdulhamit Gül for not releasing American Pastor Andrew Brunson, who faces terrorism charges in Turkey.U.S. President Donald Trump on Friday ramped up his attack on Turkey by doubling U.S. tariffs on Turkish aluminum and steel imports to 20 percent and 50 percent, respectively.Turkish economic structure solid: Presidential aideHow Turkey should respond to US’s economic warTurkey 'most suitable' for investment despite perception operations: FMTurkey launches probe into suspected actions targeting economic security
Germany has interest in stable Turkish economy: gov't spokesman