HomeEconomyTürkiye targets $1B in bilateral trade with Kosovo by year-end

Türkiye targets $1B in bilateral trade with Kosovo by year-end

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Türkiye expects its bilateral commerce quantity with Kosovo to succeed in $1 billion by the tip of 2024, the nation’s commerce minister mentioned on Monday, highlighting the widespread historic, political and financial relations between the 2 nations in addition to industrial cooperation.

“I believe that the positive momentum we have gained in our trade volume over the years will continue and we will reach the level of $1 billion by the end of 2024,” Trade Minister Ömer Bolat mentioned. He famous that this determine reached $785 million in 2023.

In his speech on the first Türkiye-Kosovo Business Forum held on the Foreign and Diplomatic Relations Board (DEIK) headquarters in Istanbul, Bolat mentioned that Turkish companies’ investments in Kosovo reached 429 million euros ($465 million) as of 2023 and that at present, Türkiye is the sixth nation that invested probably the most in Kosovo, in line with statistics of the Central Bank of Kosovo.

On the opposite hand, emphasizing that they’re happy to see that essential Turkish corporations have investments within the fields of airport operation and electrical energy distribution in Kosovo, Bolat mentioned, “Leading Turkish finance companies and banks and our leading institutions in the health sector are also operating in Kosovo.”

“Our goal is to increase existing investments in the coming period,” he famous.

“Turkish development companies have thus far efficiently accomplished 30 initiatives value $1.5 billion in Kosovo, and Turkish technical consultancy companies have accomplished 19 initiatives value $9.3 million in whole,” he mentioned.

Moreover, he touched upon the 2030 Mediterranean Games, that are set to be held in Kosovo’s capital, Pristina, expressing they have been glad concerning the group and mentioned, “We are able to cooperate with our Kosovar mates within the 2030 Mediterranean Games to be held in Pristina.”

Bolat mentioned that the event of financial cooperation between the 2 nations would enormously contribute to their economies and the welfare of the area, and for that, he highlighted that he would signal a protocol for the Türkiye-Kosovo Joint Economic and Trade Committee with Kosovo’s minister of business, entrepreneurship and commerce, Rozeta Hajdari, in Ankara on Tuesday.

“We will create a quick system to allow concrete steps to be taken to enhance financial and commerce relations, as we have now little question that our efforts will contribute to the prosperity of the 2 nations, and as an EU membership candidate, Kosovo is a vital commerce associate for Türkiye. Therefore, this protocol will yield fruitful cooperation sooner or later,” the minister mentioned.

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