Turkish firms take to Belarusian projects

"I've been to all provinces of the country. I am familiar with your culture, traditions, the economic situation and believe that Belarus occupies a strategic position in Europe and develops dynamically, which attracts investors. Your country also tries to ensure high building rates. In Turkey there are companies ready to help implement investment projects. I think the potential is high in this area," remarked Erdogan Gunduzpolat.

In his words, over the 85-year-long history the Turkish civil engineering industry has reached a very high level -- the potential of Turkish construction companies is inferior only to China and the USA. In 2008 they implemented 430 projects worth $140 billion across the globe. "Turkish companies could share their building practices with Belarusian companies," said the Consultus director.

During the negotiations it was noted that in recent years the Belarusian-Turkish trade and economic cooperation has been developing successfully. Over the last five years the mutual trade quadrupled, while the Belarusian export to Turkey tripled, with import from Turkey up by 400%. In January-June 2008 Belarus-Turkey trade increased by 94.2%, export -- 169.1%, import -- 54.4%.

With a view to further promoting the bilateral trade a decision has been made to build trade and logistics centres in Istanbul and possibly other cities for establishing direct supplies of Belarusian and Turkish commodities. The trade and logistics centres will also rule out mediators, reduce costs for end customers, ensure quality aftersale services, transport, logistics and other services. Up to $100 million will be invested into each trade and logistics centre.

As of January 1, 2008 in Belarus there were 27 companies with a share of Turkish capital, including 4 joint ventures and 23 foreign-owned companies. Turkey's largest holding companies such as Turkcell, Anadolu Group, and others.