Photo: DPAGerman business groups warned Thursday that economic ties with Turkey would go from bad to worse as a sharply escalating diplomatic row heightens uncertainty. German holiday-makers were urged to exercise "heightened caution" in Turkey, and Gabriel said Berlin would review investment aid and state guarantees and discourage German companies from doing business there. German business federation BGA, which represents exporters and wholesalers, predicted that "the uncertainty German companies already feel will now rapidly increase". BDI chief Joachim Lang warned that "for German companies in Turkey, the uncertainty increases by the hour, with every new vague and unsubstantiated accusation". More than 6,800 companies in Turkey, both German and Turkish, have received German equity investment totalling more than €13.3 billion since 1980, says the German embassy in Ankara.

Source: The Local July 21, 2017 06:56 UTC