BELARUS NEWS AND ANALYSIS

DATE:

30/01/2009

Turkey shows interest in construction of shopping centres in Belarus

In 2009 Belarus and Turkey intend to step up mutual trade and investments, Vedat Oflaz, chairman of the Belarusian-Turkish Business Cooperation Council, owner of several Turkish companies, said during business talks in the Belarusian Chamber of Commerce and Industry on January 30, BelTA has learnt.

According to him, the two countries can cooperate most fruitfully in the construction and main contract business as Turkish companies show an interest in the construction of city infrastructure, shopping centres and exhibition pavilions in Belarus. Turkey's subcontracting organizations are considered one of the leading companies in this field worldwide.

Commercial counsellor of the Embassy of Turkey in Belarus Gudzin Bayar said that Turkey has taken part in all large construction tenders in Belarus. They have won many of them. For example, Gjunaj came up a winner in the tender to build a freestyle skiing centre in Minsk. The project will be financed with the help of the credit facility extended by the Turkish Eximbank. Vatan Makina won the tender and signed a contract to deliver baby food production equipment for the Orsha Tinned Meat Plant.

"In 2008 Belarus-Turkey cooperation was developing quite successfully in terms of establishment of bilateral relations. The bilateral trade reached $400 million. The volume of Turkish investments in the Belarusian economy increased too. Turkcell acquired an 80% stake in the BeST mobile operator for $500 million. I am sure that in 2009 the mutually beneficial cooperation will be continued," Gudzin Bayar said.

According to Head of the Belarusian Chamber of Commerce and Industry Vasily Romanov, Belarus-Turkey trade can reach $1 billion. The Belarusian-Turkish trade has been rapidly developing for the past five years, he noted. In the period under review, the trade increased six times; Belarusian exports surged 4.5 times, imports seven times. In line with the intergovernmental agreement on trade and economic cooperation, the two countries set up the intergovernmental economic commission. The last session of the commission was held in Ankara in December 2008.

The Belarusian exports to Turkey include around 60 types of products. The share of oil products is around 3%. Belarus' main exports to Turkey are steel feeds, potash fertilisers, linen, synthetic thread, leather. Belarus mainly imports raw materials and various equipment from Turkey. Some 27 enterprises with the Turkish capital have been registered in Belarus, including four joint ventures and 23 foreign companies.

A delegation of Turkish businessmen led by Head of the Belarusian-Turkish Business Cooperation Council Vedat Oflaz is in Belarus on a visit (January 29-30). The delegation is made up of representatives of Turkish companies, with half of them engaged in construction. The delegation also includes officials of Ongoren Law Office, Gul Electricity Ltd (electronics), Ayfer Ceramic Ltd and Tureks Co. Inc. (textile), Taris Cotton (cotton and oil), members of the Foreign Economic Relations Board of Turkey (DEIK) and the Belarusian-Turkish Business Cooperation Council.

Source:

http://news.trend.az/index.shtml?show=news&newsid=1412948&lang=en

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