Business news

MINSK, 28 July (BelTA) - Belarus is considering setting up three assembly plants in Turkey, Chairman of the Belarusian Chamber of Commerce and Industry (BelCCI) Vladimir Ulakhovich told the media ahead of the 14th meeting of the Belarusian-Turkish Business Council, BelTA has learned.

“It is very important for us that three Belarusian engineering flagship companies open assembly plants in Turkey. This issue is already in the works. I am talking about Gomselmash, Minsk Automobile Plant (MAZ trademark) and Amkodor. We hope that BelAZ vehicles will return to the Turkish market too,” Vladimir Ulakhovich said.

The two countries can delve into new areas of cooperation. One of them is the processing of agricultural products. “We must find ways for more deep processing of vegetables and fruits supplied from Turkey and for supplying value-added products from Belarus to new markets,” he noted.

Science is also an important avenue of interaction, Vladimir Ulakhovich said. “In 2016 the demand on the hi-tech market in Turkey rose several times. At the same time, the country cut down the interaction with European partners. The Belarusian innovative products have good prospects given that Turkey has the opportunity to invest in the development of joint technology,” he explained. In addition, Turkey is a renowned furniture manufacturer. Considering the deficit of raw materials for its production in Turkey, Belarus’ timber industry, that has been recently upgraded, can offer cooperation in this area. The countries have opportunities for cooperation in the field of transport services and logistics, Vladimir Ulakhovich said.

Vladimir Ulakhovich described the economic cooperation between the countries as very dynamic. “Trade is over $800 million. There are all opportunities to achieve the goal of $1 billion in bilateral trade,” he said.

The Belarusian-Turkish Business Council is to discuss the prospects for bilateral trade, economic, and investment cooperation, the promotion of Belarusian products in Turkey, the track record of the leading Turkish companies in Belarus, and the export potential of both countries. The sides are also expected to review Turkey’s experience in supporting small and medium-sized business. There are plans to conduct negotiations between nearly 100 Belarusian and Turkish companies.