While a target of $10 billion is set for the trade volume of the Netherlands and Turkey, the country is one of the biggest partners in terms of investment. Being the largest foreign investor in Turkey, the country is also the country where Turkish business people invest the most.
The Netherlands is among Turkey’s top 10 partners in terms of bilateral trade volume. Both Dutch companies and Turkey have a lot of mutual investments. The trade volume between the two countries continued steadily despite the pandemic. There has been a trade volume of over $8 billion for the last five years. Turkey is among the countries with a surplus in trade with the Netherlands. While the foreign trade surplus reached its highest level in 2019 with $2.6 billion, it became $1.6 billion in 2020. In 2021, it exceeded this figure in the period from January to September. It is expected to close at a point close to $2 billion at the end of the year. While the main products exported to the Netherlands are motor vehicles, automobiles and textiles, iron and steel, scrap, polyacetals, epoxide-alkyd resins, petroleum oils and tractors stand out among the products imported by Turkey. The target of increasing the bilateral trade volume to $10 billion was also determined.
While $33.3 billion of international foreign direct investment inflows into Turkey in the 2016-2020 period, Dutch investors were at the top of the list with $5.4 billion. The Netherlands has so far made a direct investment of $25.7 billion in Turkey. Its share in the total investment amount is 15.9%. The amount of investment made by business people from Turkey in the Netherlands has reached $14 billion. This figure shows that Turkish businesspeople invest mostly in the Netherlands.
THERE ARE 23 THOUSAND TURKISH INVESTORS
Dutch investors invested $599 million in the first 8 months of 2020. The fact that the country offers various advantages in mergers and acquisitions also plays a role in these figures. In Turkey, companies with Dutch capital operate in almost every sector such as banking, chemical industry, pharmaceutical industry, medicine, telecommunication, logistics, textile, food and agricultural industry and tourism. The number of companies established by businessmen of Turkish origin in the Netherlands is around 23 thousand. These entrepreneurs employ about 80,000 people with their total investments of around €6 billion and have a turnover of approximately €8 billion.
FINANCING RENEWABLE ENERGY
NETHERLANDS development banks are also active in Turkey. While helping SMEs use financing to invest in efficient energy equipment, renewable energy is also supported. The areas most preferred by Dutch business people for investment in Turkey are advanced agricultural techniques, organic agricultural products, health services, environment and waste management, chemicals, energy and renewable energy, logistics, port construction and management.
POOL OF TURKISH INFORMATION TECHNOLOGIES EXPERTS
NETHERLANDS aims to work closely with Turkish talents and Dutch entrepreneurs at the human resources point in 2021. It has been announced that a new initiative will be launched to create a pool of talented Turkish ICT experts for Dutch companies.
TURKISH CONTRACTORS HAVE HALF BILLION DOLLARS OF JOB
Turkish contracting companies have undertaken six projects worth $548 million to date in the Netherlands. While companies from Turkey are expected to undertake more projects in the Netherlands in the future, it is also anticipated that Turkish and Dutch contractors can cooperate in third countries.
Source: Sabah / Translated by Irem Yildiz