Opinions & Interviews

ISTANBUL, 4 November (BelTA) – Belarus-Turkey business cooperation is based on vigorous trade and implementation of big investment projects, Chairman of the Belarusian Chamber of Commerce and Industry Mikhail Myatlikov said at the 13^th meeting of the Belarusian-Turkish Business Cooperation Council and the business forum in Istanbul on 2 November, BelTA has learnt.

“Turkey and Belarus have a long history of business cooperation based on vigorous trade and big investment projects. The two countries have been steadily developing trade and economic relations. From 2004 to 2012 the mutual trade increased 7.4 times. Belarusian exports to Turkey soared 5.5 times, Turkish imports to Belarus went up by 8.5 times,” the Belarusian official said.

According to him, investment cooperation also shows positive dynamics. From 2007 to 2012 Turkish direct investment to the Belarusian economy grew almost 11 times to make up $43.6 million in 2012. In 2008 the Turkish telecommunication company Turkcell purchased an 80% stake in the Belarusian GSM operator BeST for $600 million. Princess Group built Crown Plaza Hotel in Minsk ($34 million) and mulling over a new investment project in the Belarusian capital, i.e. reconstruction of the Yakub Kolas Printing and Publishing Factory into a five-star hotel.

A 100%-Turkish-capital company BelEmsa was opened in the FEZ Mogilev in 2012. The company produces eco-friendly personal care products. BelEmsa has so far invested over €4 million of own resources and loans into the project.

“Active cooperation is also maintained with Turk Eximbank in what concerns loans for large-scale construction projects of Turkish subcontracting organizations in Belarus,” Chairman of the chamber said. Turkish company Emsas, with the financial support of Turk Eximbank, completed the reconstruction of Oktyabrskaya Hotel into five-star President Hotel in the Belarusian capital.

“The Chambers of Commerce and Industry take an active part in the creation of favorable terms for representatives of Belarusian and Turkish business interested in finding new potential partners and expanding cooperation,” Mikhail Myatlikov stressed.

The Chairman of the Belarusian Chamber of Commerce and Industry stated that partaking in the meeting of the business council and the business forum in Turkey were representatives of big Belarusian industrial companies such as Belarusian Autoworks, Minsk Automobile Plant, Belarusian Steel Works, Minsk Tractor Works, Naftan, free economic zones of Belarus and other companies interested in developing cooperation with Turkish companies.