Turkish companies ready to support Ukraine’s reconstruction: Trade Minister
Turkish Trade Minister Omer Bolat speaks during the Türkiye-Ukraine Business Roundtable Meeting in Ankara, Türkiye on Feb. 18, 2025. (AA Photo)
Türkiye’s Trade Minister Omer Bolat stated that Turkish companies are ready to provide all possible support for the reconstruction of Ukraine’s infrastructure after the war.
“With the expertise of our companies, we will make every effort to contribute to Ukraine’s post-war recovery,” he said.
The Türkiye-Ukraine Roundtable Meeting was held on Monday at the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) Hall with the participation of Bolat, Ukrainian Deputy Prime Minister and Minister of Economy Yulia Sviridenko, Ukrainian Minister of Agrarian Policy and Food Vitaliy Koval and TOBB President Rifat Hisarciklioglu.
Bolat highlighted the significant role of the contracting sector in the economic relations between the two countries, noting that Turkish companies have successfully completed 12,450 projects worldwide with a total value of $540 billion. He added that the sector has undertaken 329 projects in Ukraine, amounting to approximately $10 billion.
He recalled that the Türkiye-Ukraine Reconstruction Task Force was established in Istanbul in 2024 and announced that the first meeting of the task force would be held in Kyiv this March.
Bolat also mentioned ongoing efforts to secure Türkiye’s participation in the EU’s €50 billion ($52.26 billion) fund designated for Ukraine’s reconstruction.
Free trade agreement expected to come into force soon
Bolat remarked on the growing economic ties between the two countries and reiterated Türkiye’s consistent support for Ukraine’s territorial integrity, independence, and sovereignty across all platforms. He noted that Türkiye had facilitated Ukraine’s access to global markets through the Black Sea Grain Initiative Agreement signed in 2022.
He stated that meticulous efforts were being made to minimize the war’s negative impact on bilateral trade relations. Despite the ongoing conflict, Türkiye and Ukraine closed 2023 with a trade volume of $6.2 billion.
Expressing optimism about the Türkiye-Ukraine Free Trade Agreement, signed in February 2022, Bolat suggested that it would come into force soon. He conveyed confidence that the agreement would significantly boost bilateral trade, potentially reaching $10 billion in the near future.
He also underlined the importance of mutual investments between the two countries, stating, “Türkiye has approximately $3.5 billion in investments in Ukraine, while Ukraine has around $16 million in investments in our country.”
TOBB President Hisarciklioglu also expressed the Turkish business community’s desire to contribute to Ukraine’s reconstruction process with concrete projects.
Hisarciklioglu noted that around 700 Turkish companies are currently operating in Ukraine. He underscored that Türkiye could support Ukraine’s infrastructure by modernizing land customs gates and improving customs service conditions, particularly mentioning the Poland-Ukraine border crossings.
‘We can benefit from your expertise’
Ukrainian Deputy Prime Minister and Economy Minister Yulia Sviridenko emphasized the strong continuation of the economic partnership between the two countries despite the ongoing war. She highlighted the importance of grain and steel exports for Ukraine and noted that production had persisted in the country despite the challenges of the past three years.
Sviridenko also cited the World Bank’s estimate that the war has caused approximately $500 billion in damages, stressing that Ukraine needs substantial investments.
“Turkish companies have an opportunity to contribute to this recovery and reconstruction process. We believe we can benefit from your expertise, engineering knowledge, and experience,” she said.
Ukrainian Minister of Agrarian Policy and Food Vitaliy Koval pointed out Türkiye is Ukraine’s fourth-largest trade and agricultural partner.
“In agriculture and the processing of agricultural products, we can establish strong partnerships by leveraging your market knowledge, access to finance, technologies, and experience,” he said, addressing Turkish companies.
