Business news

MINSK, 15 February (BelTA) – The annual growth of Turkish investment in the Belarusian economy may reach 30% in the coming years, Co-Chairman of the Belarusian-Turkish Business Council Dmitry Dichkovsky told the media ahead of the Belarusian-Turkish Business Forum on 15 February, BelTA has learned.

“The focus at the forum will be made on logistics and investment. These are the opportunities which the Great Stone Industrial Park provides, preferences in small towns. As for the Turkish investments, their annual growth may reach some 20%-30%. These are big volumes that will help establish cooperation and set up competitive companies,” Dmitry Dichkovsky said adding that it is a forecast for the near future.

According to the co-chairman, Turkey has been actively investing in Belarus. Turkish investors make use of preferences of the Belarusian economic zones. “They see the potential of the EAEU. They see the opportunities Belarus has due to its geopolitical location,” he added.

The trade between Belarus and Turkey reached almost $1 billion. “In 2016 the trade was over $800 million. The increase is a good signal. It means the business activity between the two countries has been growing. Turkey is one of Belarus’ major economic partners,” Dmitry Dichkovsky said.

He drew attention to the fact that Turkey has some well-developed industries, including automotive components, construction industry, everything connected with textile industry. “These are the sectors where Belarus needs new competences, resources, investment and innovations,” he noted.

The Belarusian-Turkish Business Forum in Minsk is attended by Belarus’ Prime Minister Andrei Kobyakov and his Turkish counterpart Binali Yildirim. During a plenary meeting and a business matchmaking event the business communities of the two countries will discuss the prospects for economic cooperation in a number of areas of mutual interest such as machine-building, chemical industry, textile industry, woodworking, logistics, information technology.