Both Exports and Turkish Investments Increases to Bulgaria and Romania

TİM CHAIRMAN GÜLLE: OUR TOTAL EXPORTS TO TWO COUNTRIES REACHED 6.5 BILLION DOLLARS

Turkish Exporters Assembly (TİM) Chairman İsmail Gülle noted the investments of Turkish-owned companies in the two countries and the increase in exports to these countries, in his speech at the Virtual Trade Delegation program held for Bulgaria and Romania. Emphasizing that cognates in the region serve as bridges in relations with the two countries and further strengthen the unity of the harmony, Gülle said, “The businesspeople of our country have 65 major investments in Bulgaria. More than 3,000 Turkish-owned companies operate in the country. There are nearly 18,000 Turkish-owned companies in Romania. 9 of these companies are among Romania's top 1,000. The annual turnover of these 9 companies is over $1 billion. Both countries are a 'regional base' for our companies. Our exports to Bulgaria increased by 49 percent to $2.6 billion in 2020 from $1.8 billion in 2015. Our exports, which was $2.9 billion in 2015 to Romania, increased to $3.9 billion in 2020.”

Turkish exporters have achieved historic successes by breaking records every month despite the coronavirus pandemic, while exports to Bulgaria and Romania are also increasing in recent years. Turkish Exporters Assembly (TİM), the only umbrella organization of 100,000 exporters with 61 exporters' associations and 27 sectors, organized a Virtual Trade Delegation program, for Bulgaria and Romania, that will create opportunities for new collaborations and sales to participating companies, and increase export figures in two countries. TİM Chairman İsmail Gülle and Turkish Ambassador to Sofia Aylin Sekizkök, Turkish Ambassador to Bucharest Füsun Aramaz, Director General of Foreign Representations and International Events of the Ministry of Commerce Mehmet Tan made the opening of the program, which was organized by TİM and in coordination with the Ministry of Commerce.

“The two countries are regional bases for our companies”

At the opening of the program, Gülle stated that they will reach the export target of $184 billion this year with their experience and innovative steps, adding that “Although the total population of our neighbors Bulgaria and Romania is 25 million, we know that these countries provide access to a wide market.”

Providing information on Turkish investments in Romania and Bulgaria, Gülle noted: Many cities of both countries are closer to the production centers of our country such as İstanbul, Tekirdağ, Kocaeli, and Bursa than Anatolian cities. Cognates in the region serve as bridges in relations with the two countries and further strengthen the unity of the harmony. The businesspeople of our country have 65 major investments in Bulgaria. More than 3,000 Turkish-owned companies operate in the country. There are nearly 18,000 Turkish-owned companies in Romania. 9 of these companies are among Romania's top 1,000. The annual turnover of these 9 companies is over $1 billion. Both countries are a 'regional base' for our companies. Companies producing in this country get the chance to export to the European Union market without quotas. I deeply believe that cooperation with both countries will continue to strengthen in the coming period.

“There are significant increases in our exports to the two countries”

Noting that exports to Romania and Bulgaria have increased significantly in recent years, İsmail Gülle added: Our exports to Bulgaria increased by 49 percent to $2.6 billion in 2020 from $1.8 billion in 2015. In 2015, our exports to Romania amounted to $2.9 billion, while in 2020 they amounted to $3.9 billion. We see that the mining products, chemicals, and automotive sectors stand out in the imports of both countries. In our exports to Bulgaria, textiles with $321 million, chemicals with $287 million, and iron and non-ferrous metals sectors lead the way with $282 million in 2020. In 2020, the sectors where our exports to Bulgaria have risen the most were Jewelry with $23.8 million (up 64 percent), mining with $186.6 million (up 63 percent), fruit and vegetable products with $16.9 million (up 56 percent) and fresh fruits and vegetable sector with $80.8 million (up 18 percent). Our export potential in ready-to-wear, processed foods and chemicals is much higher in our exports to Bulgaria.

“To Romania, we export the most automotive”

TİM Chairman Gülle said that the automotive sector with $696 million, the steel sector with $572 million, and the chemicals sector with $484 million ranked in the top three, in the exports to Romania. “Our sectors with the greatest increase in exports to Romania; Defense and Aviation were $23.7 million (up to 23-fold), tobacco with $19.4 million (up 74 percent), mining with $97.7 million (up 42 percent) and fresh fruits and vegetables with $168.7 million (up 35 percent). We also have a lot of export potential in ready-to-wear, processed foods, and paper products.”

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