October 15, 2017•Update: October 16, 2017
By Bahattin Gonultas
ANKARA
President Recep Tayyip Erdogan's upcoming visit to Poland will boost trade and investment between the two countries, business leaders from both countries said Sunday.
“Poland is the most important trading partner for Turkey in Central Europe, with bilateral trade reaching nearly $6 billion last year," Kemal Guleryuz, president of the Turkish-Poland Business Council of the Foreign Economic Relations Board, told Anadolu Agency.
The trade volume has more than doubled over the last 10 years, shooting up from $2.49 billion in 2006 to nearly $6 billion in 2016, according to Turkish Economy Ministry data.
Bilateral trade is in favor of Poland with imports from Turkey being much less. Turkey's exports to Poland stood at $1.9 billion while its imports from the country were more than $2.1 billion in January-September 2017, said official data.
Polish exports to Turkey hit a high of $3.24 billion last year, up from $1.43 billion in 2006, while Turkish exports stood at $2.65 billion, up from $1.06 billion in 2006.
"I strongly believe that the volume of trade will reach higher levels in the coming period with exports and investment support by Turkey’s Economy Ministry," Guleryuz said.
Guleryuz argued that Poland has for Turkish investors as the country attracts foreign capital investments and has EU financial support.
$10B trade in near future
"There are significant opportunities for Turkish firms in large-scale construction projects in Poland, such as housing, telecommunications, hotels, hospitals and business centers," Guleryuz said.
"With a population of 40 million, Poland is a large market and well-positioned to facilitate easy access to other regional markets. This makes it an ideal location for Turkish companies," he added.
The Polish-Turkish Business Forum to be held on Oct. 17 during Erdogan’s visit to Warsaw will help increase trade and investment relations between the two countries, he added.
Erdogan will be visiting Poland on Tuesday to discuss bilateral relations including trade. He is scheduled to meet his Polish Andrzej Duda. The two countries’ leaders are also expected to attend the Polish-Turkish Business Forum, according to the Turkish Presidency's press office on Saturday.
The one-day visit will also include talks with Polish Prime Minister Beata Szydło, as well as speakers of both houses of the Polish parliament, the and Sejm, the press office added.
Turkey's Foreign Ministry says Ankara and Warsaw have no political problems, and they share similar approaches to regional and international issues. Turkey’s support for Poland’s accession to NATO in 1999, as well as Poland’s support for Turkey’s EU accession boosted political relations.
"Turkey is the world's eighteenth and one of the fastest growing economies. The goal of Turkey’s economic strategy is to reach the tenth position by 2023," said Dariusz Oleszczuk, co-chairman of Polish-Turkish Business Council at the Polish Chamber of Commerce in Poland.
Great trade potential
He agreed with Guleryuz that the trade potential is much greater between Turkey and Poland.
"Polish exports from Turkey are just 1.5 percent of the total Polish exports which are around $200 billion, ... the potential is much greater. Some Polish and Turkish experts estimate it at 10 billion euros [$11.82 billion] in the near future," he said.
Oleszczuk said Poland's strategic location is a critical factor for any country, such as Turkey, seeking a gateway to the EU.
Poland can be competitive and have a leading role in the global economy in the following branches of industrial specialization: aviation, arms industry, car components, shipbuilding industry, IT, chemical industry, furniture and food processing, according to the Polish government.
"Clearly these sectors present many potential opportunities for Turkish companies, the Turkish president's visit will help us to boost trade ties between two countries," Oleszczuk added.
Tourist arrivals from Poland have risen by over 33 percent to 204,834 in the first eight months of this year, according to Turkey's Culture and Tourism Ministry data.
