Burak Pehlivan, Chairman of the International Turkish Ukrainian Businessmen Association (TUİD) urged Turkish investors to assess the opportunities of the Ukrainian economy regarding the privatization of a number of state companies.

“300 state companies will be privatized in Ukraine at the first stage. This is an extraordinary phenomenon in the history of any country. The situation is worth to be appreciated”, Pehlivan said, giving a high assessment of the prospects for the development of the Ukrainian economy.

According to him, the current trade turnover between Turkey and Ukraine is 4 billion dollars and it does not reflect the real potential of bilateral relations.

“The heads of states set a clear task for the business community to raise the trade turnover indicator to the level of $ 15 billion at the first stage, and then to $ 20 billion. However, it is necessary finally to sign a free trade agreement in order to achieve the aim", Pehlivan said.

The Head of the association cited the free trade agreement between Moldova and Turkey, which had come into force in September 2016, as a positive example.

“Thanks to this document, the Turkish-Moldovan trade turnover has increased by 54 percent in the first quarter of 2017. Such a growth is possible between Ukraine and Turkey”, the TUİD Chairman emphasized.

In his opinion, the agreement will stimulate the Ukrainian economy, and will be a kind of catalyst for the inflow of foreign capital.

“Currently, the volume of Turkish investments in Ukraine is two billion dollars. We expect to bring this figure in the medium-term outlook to $ 7-8 billion After signing the agreement," Pehlivan said.

Earlier, Deputy Economy Minister of Turkey Fatih Metin said at the meeting of the International Turkish Ukrainian Businessmen Association (TUİD) in Kyiv that the agreement on free trade between Turkey and Ukraine would be signed before the end of this year.