Turkish economy minister due to Poland

Turkey and Poland will sign a memorandum of understanding at the end of the second consultative meeting.

Turkish economy minister due to Poland

World Bulletin / News Desk

Turkey's Economy Minister Zafer Caglayan will travel to Poland on Tuesday to attend Turkey-Poland regular consultations, his office said on Monday.

The regular consultative meeting will take place in Warsaw on May 16 under co-chairmanship of Zafer Caglayan and Polish Deputy Prime Minister and Economy Minister Waldemar Pawlak.

Turkish-Polish Business Forum will be held the same day. Caglayan is expected to address the participants of the forum.

Caglayan will hold talks with Polish Deputy Prime Minister Pawlak; Transport, Construction and Maritime Economy Minister Slawomir Nowak.

Turkish economy minister will visit construction site of the Warsaw subway, which is under construction by Turkish company Gulermak and its Italian and Polish partners.

Poland is the sixth biggest economy in the European Union (EU) and the 20th in the world. Polish economy grew 4.3 percent in 2011, and is expected to grow by 2.5 percent in 2012.

With its 38 million population, Poland is the sixth most crowded country in Europe and the national income per capita was 20,060 USD in 2011.

Turkish-Poland trade volume was up by 14.5 folds to 5.3 billion USD from 340 million USD between 2000 and 2011. Poland ranked the 19th in countries to which Turkey exported its goods in 2011 with 1.8 billion USD.

Turkey is Poland's number 18 supplier. The trade volume between the two countries was 755 million USD in the first quarter of 2012.

Almost 40 Turkish companies have 582 million USD of investments in Poland. The total amount of projects Turkish contracting companies have undertaken in Poland is 1.2 billion USD.

Poland, which will host Euro 2012 with Ukraine, is expected to construct 770-km motorway and 2,817-km express ways. Some 30 billion Euro has been allocated for these projects.

The country will also modernize 1,566-km railway, and EU funds will allocate 4.9 billion Euro for railway projects. 700 million Euro will be invested on airport modernization projects.

Moreover, Poland will make public investments for 690 MW renewable energy, and build oil and natural gas distribution lines.

During Turkish Prime Minister Recep Tayyip Erdogan's visit to Poland on May 13-15, 2009, Economy Minister Caglayan and his Polish counterpart Pawlak signed a cooperation declaration.

The consultative meetings are taking place within the scope of the cooperation declaration. The first meeting was held in Ankara in April 2011.

In this second meeting to take place in Warsaw, Turkish and Polish executives will discuss ways to boost trade and economic relations, increase investments, and opportunities to cooperate in third countries.

Turkey and Poland will sign a memorandum of understanding at the end of the second consultative meeting.

Güncelleme Tarihi: 14 Mayıs 2012, 15:52