NEW TARGET FOR TURKEY-MOLDOVA BILATERAL TRADE: 1.5 BILLION US DOLLAR
Hosted by DEİK, Turkey-Moldova Business Forum, was held in Moldova's capital Kishinev on May 6, 2017. The Forum was attended by Turkish Prime Minister Binali Yıldırım, Moldavian Prime Minister Pavel Filip, Turkish Economy Minister Nihat Zeybekci, DEİK President Ömer Cihad Vardan and DEİK/Turkey-Moldova Business Council Chairman Sinan Bora. Business Forum was organized as part of Turkish Prime Minister's official visit to Moldova during 5-6 May, and more than 300 people from Turkish and Moldavian business communities participated the Forum.
Turkish Prime Minister Binali Yıldırım:"We want to elevate bilateral trade between Turkey and Moldova to another level; as a result, currently we are revising old agreements dating 1990s. Furthermore, we are keen to increase bilateral trade to 1.5 billion US Dollar and further as soon as possible" said during his opening remarks. He reminded that 25th anniversary of Turkish-Moldavian diplomatic relations is celebrated; however, Turkish investment in Moldovia (approximately with a value of 300 million US Dollars) does not reflect the full potential between two countries. Turkish investors have completed significant projects in Kishinev. Prime Minister expects gradual increase in investment Gagauz Region and added that there is a huge potential in the fields of textile, agriculture, food processing and warehousing. "As Turkey, we succeeded to have GDP of 850 billion US Dollars, GDP per Capita of 11 thousand US Dollars and to exceed export volume of 500 billion US Dollars. By 2023, we are aiming to reach GDP of 2 trillion US Dollars and GDP per capita of 25 thousand US Dollars in order to be one of the largest global economies. We need confidence and stability to reach our goals. We are initiating many economic projects in many countries across the world. We need to carry out these projects through institutions as DEİK to incentivize our business community. As the government, it is our duty to ease business transaction processes, incentivize businesses and to gather business communities from different countries just like today" said Mr. Yıldırım.
Moldova Prime Minister Pavel Filip expressed that Turkish-Moldova Business Forum is significant and that relations between two countries are satisfactory and strong. As a consequence of The Free Trade Agreement signed on November of 2016, two countries will not only develop trade but also share knowledge and experience with each other. He further added that Moldova government took many measures and innovative moves after the gloval financial crisis; as a result, economy has grown by 4% in 2016. The economic growth will continue in 2017-2018, he stated that number of audit firms has been decreased from 67 to 16 in order to develop private sector in Moldova. He added that audit firms should be supporting entities rather than punishing institutions. Prime Minister Filip invited Turkish business people and investor to work in free trade area. He announced that Moldova's state companies will soon be privatized and that he would want to see Turkish companies during the process since first large investments were made by Turkish companies.
DEİK President Ömer Cihad Vardanstated that the Turkish Business Community is working hard to elevate economic relations to a new level powered by the Free Trade Agreement signed in 2016. "Current structure between two countries can enable further economic cooperation. Our wish is to reach 500 billion US Dollar and afterwards to reach 1 billion US Dollar of trade volume.
Turkey-Moldova Bilateral Trade (Ministry of Economy-2016)
Turkish export to Moldova: 262 million US Dollars
Main export items: Textile, pharmaceuticals, citrus
Turkish import from Moldova: 148 million US Dollars
Main import items: Seeds, vegetables, textile and glass product
Total Trade Volume: 410 million US Dollars
Trade Balance: 115 million US Dollars
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