German industrial federation expresses concerns about Turkey's referendum

The head of the Federation of German Industries (BDI), the nation's main industrial group, said Tuesday that the referendum in Turkey was "worrying" and could hurt Turkey's economic ties with European partners.

BDI president Dieter Kempf said the results of the Turkey vote made him worried and suggested Turkey was moving further away from basic European values with the referendum.

Kempf said Turkey had been suffering from a sharp decrease in Foreign Direct Investment, which had plunged by almost one third last year.

He said Turkey "needs a strong partner from Europe that supports the further economic development of the country."

Germany is Turkey's most important trading partner, with a total bilateral volume of 37 billion euros (40 billion U.S. dollars). According to BDI, about 6,800 German companies operate in Turkey.

Kempf urged Turkish President Recep Tayyip Erdogan to ensure that confidence among European partners would not be damaged further, in the economic interest of Turkey.

Erdogan declared victory in a constitutional reform referendum that will give him sweeping powers, amid an outcry from the opposition that the voting was rigged.

BDI represents 36 business associations and working groups in Germany, covering more than 100,000 enterprises. Endit