Istanbul: Trkiye and Poland trade in a variety of sectors, ranging from auto parts to automotives, chemicals to contracting, and defense, among others, the head of the Trkiye-Poland Business Council at the Foreign Economic Relations Board (DEIK) told Anadolu. Ercan Duman stated that the target trade volume between Trkiye and Poland was set at $15 billion during Turkish President Recep Tayyip Erdogan's meeting with Polish Prime Minister Donald Tusk in March.

According to Anadolu Agency, this week, the 4th Poland-Trkiye Economic Forum was held in Istanbul with the focus on green technologies and energy transition. Duman noted that Poland is a gateway to the Baltic states and other major markets, and the country rapidly developed its gross national income per capita, 'reaching up to $18,000, upgrading from a developing country to a developed one.'

The trade volume between Trkiye and Poland rose from $7 billion to $12 billion over a very short time, and this trend is continuing. Duman stated that there are various leading sectors doing trade between the two countries, with significant progress in the defense, IT, and logistics sectors. He emphasized that the beauty lies in diversity, with Trkiye's exports being higher, although the trade balance has narrowed in recent years.

Duman mentioned that Trkiye and Poland share a similar approach to energy, as Poland works towards reducing its energy dependence on Russian gas and ensuring its energy security, placing emphasis on renewable energy. Trkiye is investing in both renewable and conventional energy to ensure diversity, highlighting important areas for cooperation. An example is Turkish firm Kalyon Energy's renewable energy project completed with funding from Poland.

Another example of energy cooperation is the joint venture for the floating liquefied natural gas (LNG) terminal, currently being built in the Gulf of Gdansk. It will be the first floating terminal when built, with a consortium of two Turkish firms and one Polish company undertaking the project. The agreement for the project was signed this year, covering executive design, procurement of equipment, and the construction process. The land-based part of the project is being done by Polish firms, while 70% of the project is undertaken by Turkish contributions.

Emphasizing that the shared objectives of the two countries are to boost diversity, ensure energy security, and reduce dependency, Duman stated that the examples of cooperation should inspire more to come.