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Investment and industrial potential of FEZ Grodnoinvest was presented in the Republic of Turkey

On January 28-29, 2020, a meeting of the Belarusian-Turkish Joint Working Group on Industrial and Technological Cooperation was held in Istanbul. During the event, Dmitry Rozhkov, Deputy Head of the Administration of FEZ Grodnoinvest, presented the investment potential of Grodno region and made proposals for the development of Belarusian-Turkish business relations.

The meeting of the working group was chaired by Alexander Ogorodnikov, the Deputy Minister of Industry of the Republic of Belarus, and Hassan Buyukdede, the Deputy Minister of Industry and Technology of the Republic of Turkey. The parties discussed the prospects for bilateral cooperation in industry, investment, legal metrology and practice, science and innovation, standardization.

Dmitry Rozhkov presented the investment, industrial, trade and economic potential of FEZ Grodnoinvest, investment ideas on the development of Turkish industrial zone and a multimodal logistics center in Grodno region. Within the framework of the visit to the Republic of Turkey, a number of meetings were held with potential investors in woodworking sphere, production of automotive components, as well as with residents of Istanbul Technopark.

The trade turnover between residents of FEZ Grodnoinvest and Turkish business in 2018 exceeded 10 million US dollars, which is 2.7 times higher than in 2017. Belarusian companies supply chemical products, furniture and woodworking products to Turkey. Products from plastic, cotton and knitwear, metal structures, machinery and equipment are imported from Turkey.

Among FEZ Grodnoinvest residents there is a company with Turkish capital. Europlastex Invest Ltd. is implementing a significant project in textile industry to establish a vertically integrated complex for the production of cotton yarn and products from it with a total value of over $ 50 million.

In order to expand business contacts between two countries, in October 2019, the administration of FEZ Grodnoinvest together with the Embassy of the Republic of Belarus in the Republic of Turkey organized a Belarusian-Turkish regional forum in Grodno. Over 50 companies from various sectors of the economy participated in it.

In December 2019, the FEZ administration took part in a meeting of the Belarusian part of the Belarusian-Turkish Business Council, which outlined the problematic questions of of FEZ Grodnoinvest residents regarding export of products to the Turkish market, prospects for interaction with Turkish business for 2020.