Turkish Firms Amplify Investment in Ukraine Amidst Conflict

by Roman Cheplyk
Monday, February 5, 2024
Turkish Firms Amplify Investment in Ukraine Amidst Conflict

Yulia Svyridenko, alongside other Ukrainian and Turkish officials, discussed ongoing Turkish investments in various sectors in Ukraine, despite the war

Yulia Svyridenko discussed ongoing Turkish investments in Ukraine amidst the war, in a meeting with officials including Halyuk Bayraktar of "Baykar Defense" and Chetin Chagalyan of "Trendyol Group," alongside Ukraine's Minister of Strategic Industries, Oleksandr Kamyshin, and First Deputy Prime Minister - Minister of Economy, highlighting interest in the high-tech, defense, light industry, and fashion production sectors.

Svyridenko expressed gratitude for Turkey's support, particularly Baykar's contribution through Bayraktar combat drones, emphasizing the importance of foreign investments for strengthening Ukraine’s defense and aiding in post-war recovery. The talks covered the construction progress of Baykar Defense's drone factory in Ukraine and the potential for drone production and export, leveraging Ukrainian engines.

The meeting also delved into "Trendyol Group's" plans to penetrate the Ukrainian market. Owned by Alibaba Group, Trendyol is a leading marketplace in the EU, Turkey, and the Middle East, specializing in fashion and retail. This venture is expected to benefit both parties, offering a new sales avenue for Trendyol and providing Ukrainian manufacturers access to a broad marketplace for exporting goods.

Highlighting the resilience of the Ukrainian fashion industry, Svyridenko underscored the significance of enabling local manufacturers to reach global markets, fostering mutual growth for Turkish and Ukrainian businesses.

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