Turkey and Moldova target mutual trade worth US$ 1 billion and more investments

Turkey intends to improve bilateral relations with Moldova and has updated the agreement reached in the 1990s, in this regard. In this context both countries target to reach a mutual trade volume of US$ 1 billion not before long.

It is reported that the volume of Turkish investments in Moldova is around US$ 300 million US – not reflecting the current potential between the two countries. Turkish investors have carried out important projects especially in the capital of Moldova in the capital of Chisinau. In its cooperation with Moldova, Turkey should evaluate the potential in areas of textile, agriculture, food processing, packaging and storage.

Regarding this issue Mr. Omer Cihad VARDAN, the President of Foreign Economic Relations Board (DEIK) has expressed that they have been trying to carry the relations between two countries to a new dimension with the dynamism the FTA agreement gone into effect on 1 November 2016, has brought.

VARDAN said, “This way, we would like to increase our bilateral trade which is at the level of US$ 500 million to one billion level and our mutual investment stock to higher figures, in the next period”.

At the Turkey-Moldova Business Forum organized by the Foreign Economic Relations Board of Turkey, Octavian CALMIC, Economy Minister and Deputy Prime Minister of Moldova also gave a speech. Indicating that the current trade volume between Turkey and Mold was not at the level it deserved CALMIC said “Our agreement will promote further the trade volume between the two countries”.

He said, the “Promotion and Protection Agreement of Investments” was signed within the scope of free trade agreement between Moldova and Turkey and there were some issues waiting to be solved between the two countries.