Turkish businesses open most companies in Ukraine last year – TUİD head

Burak Pehlivan, head of the Turkish-Ukrainian Business Association (TUID), said this in an interview with Ukrinform.

“Despite the ongoing war, Turkish-Ukrainian economic and trade relations remain viable, dynamic, and progressive. In 2024, 1,109 companies with foreign capital were established in Ukraine. Approximately 20% of them were companies with Turkish capital. Last year, Turkish companies accounted for the largest number of foreign companies opened in Ukraine,” said Pehlivan.

Despite the challenges posed by the war, difficult conditions, and severe challenges, Turkey and Turkish business are interested in Ukraine.

“In total, more than 1,100 Turkish companies operate in Ukraine today. Turkish investments in Ukraine are approaching $5 billion,” said the TUİD head.

He also emphasized that Ukraine and Turkey managed to maintain the average volume of bilateral trade at the pre-war level. With the entry into force of the Free Trade Agreement, trade and investment processes are expected to grow.

As reported by Ukrinform, Turkey expects an increase in turnover after Ukraine ratifies the Free Trade Agreement.