Business news

Elnur Osmanov said that the forthcoming forum in Istanbul will become the most important step in the development of bilateral cooperation between Belarus and Turkey. “Belarus-Turkey cooperation has a huge potential. It is not just another popular phrase said during talks. It is true. There are huge opportunities for expanding mutually beneficial trade and economic cooperation. For instance, for now Belarus-Turkey trade stands at $400 million, but it is obvious that the figure fails to reflect the existing opportunities. Belarus and Turkey are mutually complementary in the industrial sphere.”

Among the areas that look particularly promising for cooperation Elnur Osmanov mentioned automobile manufacturing and foreign trade. “Turkey makes a lot of components, automobile parts that Belarus needs. On the other hand, Turkey has no enterprises that make harvesters,” he said. Turkey may also be interested in BelAZ products. Turks know little of BelAZ, yet the company is one of the world’s top three manufacturers of dump trucks.

The guest underlined that the Turkish side places emphasis both on the visit and the forthcoming forum. “I am confident that our work will produce results. Cooperation with leading industry organizations of Turkey has been established already. Apart from that, work on creating a guidebook on doing business in Belarus is in progress. This substantial and rather concrete book will target Turkish businessmen, who, I have to admit, know little about Belarus’ investment appeal for now. Nevertheless, Belarus still possesses factors, which are important for business success: political stability, no corruption, preferential business terms in free economic areas, and an advantageous geographical location,” said Elnur Osmanov.

The Deputy Coordinator of the Turkey-Eurasian Business Councils also said that the forthcoming Istanbul forum is expected to gather up to 300 participants from each side. Agreements on cooperation between several free economic zones in Belarus and Turkey are expected to be signed.

A delegation of DEIK experts visited Grodno Oblast on 12 August. Presentations and negotiations were held in the free economic zone Grodnoinvest. A number of industrial enterprises that reside in the zone are supposed to be visited as well as several locations suggested for creating a Turkish industrial zone in Grodno in addition to tourism facilities.

The visit of the DEIK experts has been organized by the Belarusian embassy in Turkey and the National Agency of Investment and Privatization of Belarus.