Türkiye, North Macedonia strengthen economic ties in Istanbul

Officials and business people from Türkiye and North Macedonia gathered at a business forum in Istanbul on Friday to boost their bilateral trade volume and evaluate new investment opportunities.

Organized by Türkiye's Foreign Economic Relations Board (DEIK) in Istanbul on Friday, the event hosted high level officials from both countries, including North Macedonia's Prime Minister Hristijan Mickoski.

Turkish Trade Minister Omer Bolat stated at the opening cereomy of the event that the deep-rooted bonds between the two friendly nations enabled them to build a strong economic partnership.

The minister emphasized that the bilateral trade volume between the two countries reached around $1 billion.

He pointed out that Turkish contracting companies successfully completed 45 projects worth $2 billion in North Macedonia so far.

The minister expressed that around four 1,000 Turkish companies provided employment in various sectors including services, banking, and manufacturing.

Bolat underlined that Turkish state-lender Halkbank maintained a strong position in the Balkan country with 49 branches and 800 employees.

He added that officials continued negotiations to modernize the free trade agreement to cover e-commerce and services sectors.

The minister also noted that Turkish contractors stood ready to take part in the EU Growth Plan projects allocated for North Macedonia.

EU GROWTH PLAN PROVIDES NEW FINANCIAL INSTRUMENTS

North Macedonia's Minister of European Affairs Bekim Sali stated that Turkish companies had a significant presence in North Macedonia and contributed greatly to the development of industry and infrastructure.

Sali emphasized that the government remained committed to creating a stable, predictable, and competitive business environment that encourages investment.

He expressed that the European Union growth plan provided new financial instruments aimed at accelerating economic convergence with the bloc.

The minister underlined that the eighth and 10th corridors represented economic growth, mobility, and regional integration projects rather than just transportation routes.

Sali invited Turkish companies to actively explore opportunities in renewable energy, green transition manufacturing, and digitalization.

CONFIDENCE IN NORTH MACEDONIAN ECONOMY

North Macedonia's Minister of Foreign Affairs and Foreign Trade Timcho Mucunski said the two countries maintained a strategic partnership based on mutual respect and political trust.

Mucunski stated that the presence of more than three 1,000 Turkish companies in the country showed a clear expression of confidence in the North Macedonian economy.

The minister noted that the bilateral trade volume reaching $1 billion last year represented only the beginning of their economic goals.

He expressed that the government integrated foreign trade into the portfolio of the Ministry of Foreign Affairs to put economic diplomacy at the heart of foreign policy.

Mucunski emphasized that the real measure of success would be the partnerships that the companies would establish and the contracts to be concluded.

IMPORTANT FOR TURKISH CONSTRUCTION COMPANIES

DEIK Chairman Nail Olpak announced that Turkish business people aim to double the $1 billion bilateral trade volume between Türkiye and North Macedonia.

Olpak stated that North Macedonia's position along 10 European corridors carried great importance for Turkish construction companies and logistics firms.

The president expressed that Türkiye's expertise in solar, wind, and energy efficiency added value to North Macedonia's renewable energy goals.

He mentioned that the business community needed to overcome limited financial opportunities and shortages of skilled labor to expand investments.

Olpak called for more focus on sectoral diversification to deepen the existing economic relations between the two countries.

STRUCTURAL COMMITMENTS

UN Development Programme (UNDP) Deputy Regional Director Nick Hartmann emphasized that sustainable development goals required private sector investments rather than just public funds.

He stated that North Macedonia's national development strategy for the next 20 years included structural commitments to build investor confidence.

The deputy director expressed that they created an investor map to connect national priorities with global goals.

Hartmann added that this map aimed to mobilize capital by providing concrete data on risk profiles and return potentials to international partners.