Business news

16 Apr 2019

Belarus concludes $325m worth of contracts with Turkey at business forum

ANKARA, 16 April (BelTA) – Belarusian companies have concluded $325 million worth of contracts with Turkey at the business forum, Chairman of the Belarusian Chamber of Commerce and Industry Vladimir Ulakhovich told the media on 16 April, BelTA has learned.

“This is a considerable contribution to our trade and exports. The total amount of the signed contracts reached $325.67 million. Our export deliveries will make up $318 million. The major suppliers will be the Belarusian petrochemical sector, including Naftan, Grodno Azot and Mogilevkhimvolokno,” Vladimir Ulakhovich said.

According to Vladimir lakhovich, last year Belarus had big trade deficit with Turkey, but the mutual trade has been gradually leveling out.

One of the goals of the current business forum is to expand the lineup of products exported to Turkey.

“There are 66 Belarusian companies among the exporters. The key of them represent petrochemistry, metallurgy and mechanical engineering. They make up the bulk of the export portfolio. There are also new areas such pharmaceutics, banking sector, logistics and furniture industry,” he said.

The Belarusian oil refinery Naftan concluded a six-year contract worth of €200 million during the Belarusian-Turkish business forum in Ankara. The Belarusian company will deliver acrylonitrile for artificial fiber production in Turkey. “It is a big contract for us. We took a serious and thorough approach to the preparation for this contract,” Naftan Director General Aleksandr Demidov said.

Grodno Azot concluded with a Turkish company a contract to deliver polyamide thread to the total tune of more than $14.7 million. Amkodor signed a contract to deliver 30 snow cleaning vehicles to Turkey (about $1.350).

Mogilevkhimvolokno signed memorandums of intentions with two Turkish companies. The Belarusian company plans to deliver up to 20,000 tonnes of polyester fiber to the Turkish market to the total amount of about $64.5 million through the end of 2021. Polotsk-Steklovolokno will purchase industrial boric acid worth $7.9 million from Turkey’s Etiproducts.

A strategic agreement on cooperation was also signed by MTZ Holding and Ganja Auto Plant.