Updated at 13:33,19-09-2022

Prospects for Belarus' exports of goods, services to Türkiye outlined


Prospects for Belarus' exports of goods, services to Türkiye outlined
The National Center for Marketing outlined the prospects for promoting Belarusian goods and services in Türkiye, BelTA has learned.

"Türkiye is one of the fastest growing markets in the world. The key sectors of the economy are the service sector (34%), industry (22%), trade (16%), transport (11%), construction (10%), agriculture (7%). According to the World Bank, in 2021, the Turkish economy ranked 19th in the world. The country is one of the leaders in terms of GDP among developing countries. Last year, Türkiye's GDP amounted to $810 billion, up by 10% over 2020," the center said.

The country's imports in value terms reached $271.4 billion in 2021, up by 24% over 2020. "Türkiye ranks 22nd among the world's largest importers. Major imports are oil, pearls, precious stones, metals and products from them, equipment and mechanical parts, land transport, ferrous metals, plastic, organic chemical compounds, pharmaceutical products," the National Center for Marketing added.

According to the National Statistical Committee, in 2021 the trade between Belarus and Türkiye amounted to $1,083.2 billion (an increase of 46.4%). Belarusian exports came at $360.5 million (an increase of 170.4%). "The main Belarusian export commodity items to Türkiye in 2021 were cheeses, milk and cream, condensed cream, butter, timber, bars made of iron or non-alloy steel, wooden furniture, OSB boards and chipboards, rail or tram motor cars," the organization said.

The center noted that currently there is a growing demand in Türkiye for dairy products with a shelf life from six months: fresh cheeses (feta, brinsen cheese), suluguni cheeses, yogurts and kefirs with different flavors and functional additives (collagen, probiotics). In this regard, Belarus has a great potential to increase the supply of not only these products but also butter, skimmed powder and whole milk powder.

Plans are in place to launch supplies of Belarusian meat products (beef and poultry) produced in accordance with the Halal requirements.

An agreement on free trade in services can serve as an additional impetus to bilateral trade and economic relations. It is expected to create favorable conditions for the expansion of the structure and volume of Belarusian services exports to Türkiye, which, in turn, will boost efficient promotion of Belarusian goods to the Turkish market.

“Belarusian enterprises when entering the Türkiye market should take into account the competition from the country's main trading partners (Germany, China, UK, USA, Iraq, Italy, France, Spain, Netherlands, Switzerland, Israel, Russia, Republic of Korea) and apply more flexible options for cooperation. Doing business in Türkiye prioritizes the importance of establishing personal contacts with representatives of Türkiye business. In this regard, the most effective tool for entering this market is participation in exhibitions and other business events of the country,” representatives of the center said.

The National Center for Marketing offers Belarusian exporters various formats to present their opportunities to Türkiye entrepreneurs. In particular, the Belarusian national exposition organized by the Center will go on display at the international exhibition MUSIAD EXPO in Istanbul on 2-5 November.

Belarusian enterprises are scheduled to take part in the exhibition as exhibitors. The Center offers those that are not yet ready to act as exhibitors to take part in a business mission to Istanbul, which will be held on the days of MUSIAD EXPO. “We will not only ensure that the participants of the business mission attend the exhibition, but also organize meetings with Türkiye companies in accordance with the identified business interests. Visits to the best Türkiye companies will take place as well. The participants of the business mission will be able to present their companies during the Day of Belarus scheduled to make part of MUSIAD EXPO. In order to be better prepared for the visit, it is important to study the Türkiye market in terms of the product types planned for export considering supply dynamics, import growth rate, tariff regulation, competitive environment and product cost.