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Trade and economic cooperation between the Republic of Belarus and the Republic of Türkiye

Foreign trade dynamics of goods with Türkiye (million USD) 

Year

Turnover

Export

Import

Balance

2010

362,8            104,8  257,9 - 153,1

2011

433,3          129,0  304,3  - 175,3

2012

492,6             145,5 347,2 - 201,7

2013

578,4         168,2  410,2   - 242,0

2014

628,7            165,6  463,1 - 297,5

2015

629,7       141,9  487,8    -349,9

2016

817,4         84,8  732,6   -647,8

2017

942,1             134,4 807,7 -673,3

2018

983,7          182,9   800,8 -617,9

2019

900,3           141,1  759,2  -618,1

2020

740,1        133,3     606,8  -473,5

2021

1081,6           360,5  721,1  -360,6

In 2021, the trade turnover in services between the Republic of Belarus and the Republic of Türkiye amounted to USD 94.8 million (161.8% to 2020), the Belarusian export – USD 52.8 million (133.8%), import – USD 42 million (219.5%). The balance of trade in services amounted to USD 10.8 million in favour of Belarus.  

The largest share in bilateral exports and import of services belongs to: transportation services, business and tourism services.

Belarusian-Türkiye joint intergovernmental economic commission is the main mechanism for strengthening bilateral cooperation in trade, economic and investment spheres.
The 10th meeting of the Commission was held in April 2019 in Ankara.

Bilateral investment cooperation.

In 2021, the volume of Türkiye investments in the Belarusian economy amounted to
USD 51.5 million, including direct investment – USD 51.1 million

On January 1, 2021 there were registered 126 companies with capital from Türkiye in Belarus. 5 companies-residents with Türkiye capital successfully implement investments projects in Free economic zones of Belarus.

Examples of successful Türkiye investment projects in Belarus are: the acquisition by the telecommunication company “Turkcell” of the shares of the Belarusian GSM-operator JSC “BeST” in 2008, construction by the “Princess Group” of the “Crowne Plaza Minsk” hotel, the implementation of other projects in the field of real estate, textile industry, production of building materials.

“Turkeximbank” has provided loans for large-scale construction projects of General Contractors from Türkiye in the Republic of Belarus.

In January 2020 in Türkiye (Sinop) there was opened a joint Turkish-Belarusian company for the production of plastic toys Polesie TR.  

 

 

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