North Macedonia calls for investment in free zones

Chairman ACCORDING TO SEKIP AVDAGIC, of the Board of the Istanbul Chamber of Commerce (IT•), North Macedonia, which has a free trade agreement with the European Union (EU) and European Free Trade Association (EFTA), should be considered an advantageous country for investment.

Speaking last week at the webinar on “Trade and Investment •pportunities with North Macedonia” held by IT• in cooperation with the Consulate General of the Republic of North Macedonia, Avdagic noted that Turkey was one of the first countries to recognize Macedonia, which declared its independence in 1991, and send an ambassador. Pointing out the activities of the Turkish Cooperation and Coordination Agency (TIKA) and Yunus Emre Institute in the region and the investments of key companies, Avdagic said: “At the meeting we held a short time ago, we realized that there is much more work to be done. With the Free Trade Agreement signed in 1999, we increased bilateral trade volume from USD 90m to USD 550m. We sell three and buy one, there is an imbalance in favor of Turkey,” he said.

Foreign direct investments of Turkish investors in the country amounted to EUR 344.5m, according to 2019 year-end data from the Central Bank of North Macedonia, only 6% of total investments, placing behind Greece. “It is an important advantage for Turkish investors that North Macedonia has a free trade agreement with the European Union and European Free Trade Association,” Avdagic said. “As a first step, we should increase our trade volume to USD 1bn and our investments in the country to USD 500m. Skopje is close enough to be our second address. As IT•, we are ready for any kind of contribution.”

‘MATTO IS THE ITO BRANCH IN SKOPJE’

Macedonian Turkey Chamber of Commerce (MATT•) Chairman and businessman Aydogan Ademovski said that Turkey’s investments in Macedonia are around USD 2bn, and that it has fallen fell behind in investments despite good political relations. “When the FTA is signed and the duty-free zones project is completed, investments will reach USD 3bn, and our trade will reach USD 1bn, as with Bosnia and Serbia,” he added.

“We will be much more successful in cooperation with prestigious Turkish companies such as Cevahir Holding, TAV, Acibadem, SUTAS and Halkbank, and Macedonian companies such as Pucko Petrol, Vitaminka, Alkaloid and Makstil being our locomotive members. MATT• is the IT• branch in Skopje, our doors are open, we are waiting for your instructions and cooperation.”

A COMMERCIAL CONSUL WAS APPOINTED IN ANKARA

Igor Popov, Director of Economy and Public Diplomacy of the Ministry of Foreign Affairs of the Republic of North Macedonia and former Consul General in Istanbul, said that Suzana Tuneva has been appointed commercial consul in Ankara after a long period in which the post was unoccupied. , he said, adding that they were in Turkey to revive economic relations between the two countries together with the Consulate General in Istanbul.

North Macedonia Prime Minister Zoran Zaev paid a visit to President Recep Tayyip Erdogan on June 5 with Health Minister Venko Filipce.

Bujar •smani, Minister of Foreign Affairs of North Macedonia, who could not attend the meeting due to a last-minute change, called for investment by video while Istanbul Consul General Aktan Ago said that they were ready to provide all kinds of support together with the economic adviser in Ankara.

Sekip Avdagic

ITO Chairman

As a first step, we should increase our trade volume to USD 1bn and our investments in the country to USD 500m. Skopje is close enough to be our second address. As ITO, we are ready for any kind of contribution.