Denmark Offers Know-How Opportunities

Ranking 10th among 141 countries in terms of global competition and 8th among 180 countries according to the economic freedom index, Denmark is one of the

countries with the highest welfare level. Denmark benefits greatly from the advantages of the Customs Union in mu- tual trade as it is an EU member, and the conditions in the country are expected to even get better after the updates in the Union. Up until 2019, we had a trade surplus in Denmark. The automotive industry and textile, in particular, constitute a great part of our exports. Danish companies mostly invest in the pharmaceutical industry, environment & water technologies, and wind power in Turkey. There are cooperation opportunities for both countries in third mar- kets, especially Turkey’s neighbours and Turkic Republics. As the Business Council, we are in favour of creating mutual know-how and technology-shared trade model. We contin- ue our activities to share Denmark’s experiences especially in renewable energy, localised heating, energy efficiency, biotechnology, agriculture, and animal husbandry sectors to shareholders in Turkey. We plan to make our Business Council visit to Denmark, which we had to postpone due to COVID-19, in the first half of 2021. Additionally, the second JETCO meeting between Turkey and Denmark took place on October 27, 2020.