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from 19.02.2008

Belarus intends to intensify investment cooperation with Turkey

Belarus intends to intensify investment cooperation with Turkey

Belarus is interested in intensification of the investment cooperation with Turkey, Prime Minister of Belarus Sergei Sidorsky noted during his meeting with Special Representative of the Turkish Prime Minister Bilge Cankorel.

According to the Head of the Belarusian Government, the two countries have good trade and economic relations. In 2007, the trade between the countries exceeded $200 million. At present, there are 31 companies in Belarus with the participation of the Turkish capital. However, in 2007, the Turkish investments in Belarus made up $1, 5 million only that does not meet the rates of the economic development of both the states, Sergei Sidorskiy noted. He considers that there is a need to increase the Turkish investments in the Belarusian economy.

Sergei Sidorskiy noted that Belarus actively works to attract foreign investments. In particular, in 2007 the country attracted more than $8 billion of investments.

“We are interested in more active cooperation with Turkey and, first, it concerns economy,” the Belarusian Prime Minister highlighted. He also noted that Belarus actively cooperates with Turkey in the international arena.

In turn, Mr. Bilge Cankorel noted that there are no political problems in the relations between Belarus and Turkey. Both the countries have the basis and the infrastructure to develop the bilateral economic cooperation, the Turkish official said. According to the Special Representative of the Turkish Prime Minister, the Turkish investments in Belarus are not sufficient enough. At the same time, representatives of a Turkish company- a leading glass-producer – offer to invest around $500 million in projects in Belarus.

Mr. Bilge Cankorel also informed that next week a new Turkish Ambassador will start his work in Belarus.

In 2007, the trade between Belarus and Turkey hit $206, 8 million, or 35% up as against 2006. The Belarusian exports to Turkey increased by 75.3% to reach $67, 8 million. The Turkish imports upped by 21.4% to make up $139 million.

In 2007, the main Belarusian export articles to Turkey were stock steel, potash fertilizers, linen, synthetic threads and fibers. The main Turkish export articles to Belarus were raw materials, various equipment, agricultural products.

In 2007, the Belarus-Turkey trade including services made up $250-260 million, or 40% up as against 2006.