Ukraine-Turkey trade grows by over 22% last year
Ukraine's Ambassador to Turkey Andrii Sybiha said this at a meeting with members of the Association of Crimean Tatar Business People of Turkey, Ukraine and Romania (TURKSID), an Ukrinform correspondent reports.
“Over the past year, we have reached a very good growth dynamics in our mutual trade at the macro level. According to last year's statistics, the volume of trade increased by 22.3% compared to 2018. According to Ukrainian statistics, our trade volume amounted to USD 4.973 billion,” Sybiha said.
According to the diplomat, the main export items to Turkey were ferrous metals (29.2%), grain crops (27.4%), residues and wastes from the food industry (8.8%), seeds and fruits of oil plants (17.8%).
“Unfortunately, this export is mainly of raw material nature; there are few value-added products. Second, the structure of this export does not threaten or call into question the conclusion of a free trade agreement (FTA). Today, Ukraine and Turkey complement each other, including in economic cooperation, we are not competing countries,” the diplomat emphasized.
He noted that the structure of Ukraine’s exports to Turkey demonstrated great potential for the markets of third countries, where Turkey has strong positions, in particular the countries of the Middle East and Africa.
After the introduction of quarantine restrictions, it became clear what potential exists in the transport sector, what amount of cargo is transported through the territories of the two states.
“Turkey’s unique experience is technology parks and industrial zones. This sector has great potential in Ukraine, and we welcome the implementation of the project to create an industrial park in Mariupol,” he added.
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