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18 October 2017

Polish-Turkish Business Forum: PAIH to open trade office in Istanbul

Turkey is Poland’s main trade partner in the Middle East and a target market for a half of Polish sectors with the biggest export potential in distant markets. New trade and investment deals were the topic of Polish-Turkish Business Forum which took place on October 17th in Warsaw. The meeting was attended by president Andrzej Duda and president Recep Tayyip Erdogan and 300 businessmen from both countries.

- Polish-Turkish trade exchange is balanced, what proves that entrepreneurs from both countries know the markets inside out - Poland’s president Andrzej Duda said in opening statement. As the president mentioned, Polish-Turkish trade turnover has been gradually growing; last year, its volume reached some USD 6 billion (PLN 24,5 billion). Moreover, only in first eight months of 2017 trade exchange between the countries valued at USD 4 billion. - There is a potential on both sides to work out USD 10 billion of turnover in a few years to come - Andrzej Duda said. - Poland and Turkey deserve this grow - president Recep Tayyip Erdogan argued.



Both presidents announced that Polish-Turkish trade turnover could reach a value of USD 10 billion in a few years to come


Processing industry’s products are the speciality of Poland’s exports to Turkey. However, president Andrzej Duda believes that energy sector holds a great potential for the bilateral cooperation. - Turkey has been developing a program of conventional energy production. Our experienced engineers may help out. He noted that Polish company Farmur has been successfully delivering mining machines to Turkey for several years. - We could also cooperate in such fields as revitalization of energy blocks and solar energy -  president Duda suggested.

- We could build bridges between East and West together - Erdogan said enquiringly. He referred to dynamically increasing Poland’s and Turkey’s economic growth. He moreover pointed out the opportunity of cooperation regarding infrastructure projects, including constructing Turkey’s largest airport in Istanbul as well as roads and bridges. Erdogan underlined he meant not only ventures inside Turkey, but also in the Middle East - where Turkish companies have a solid position and a network of business connections.



During the Forum vice-president Fedko said that PAIH is going to open Trade Office in Istanbul next year


In vice-president Wojciech Fedko’s opinion Turkey is a perfect target market for the Polish automotive sector, especially for car components producers. – I encourage automotive companies to take a closer look at Bursa-Marmara region, for instance, where, among others, Fiat and Renault based their production plants, and their contractors have been operated. Passenger cars, delivery vans and trucks have been produced there. - I am sure that the Polish automotive sector will make itself at home by the Bosporus soon - Wojciech Fedko argued, mentioning Polish companies’ experience in cooperation with foreign investors, including Turkish. - PAIH have been supporting six direct investments from Turkish this year alone. Three of them regard automotive sector. This is an opportunity for creating 1.700 new jobs and a foundation for building long-term trade and investment ties between our countries - he added.

W. Fedko also said during the Forum that PAIH is going to open its Trade Office in Istanbul so that the Polish-Turkish economic relation could be strengthen. (PAIH)



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