One of Türkiye’s largest e-commerce companies, Trendyol, on Friday said it has plans to enter the Ukrainian market, in an announcement that comes even as Russia’s invasion nears the two-year mark with no end in sight.
The announcement came following a meeting of Trendyol Group President Çağlayan Çetin and pioneering drone maker Baykar CEO Haluk Bayraktar with Ukraine’s First Deputy Prime Minister and Economy Minister Yulia Svrydenko in Kyiv to discuss investment plans in Ukraine.
The company’s press release indicated plans for investment in digital and logistical infrastructure in Ukraine.
“I find it important for Turkish companies to prepare for investing in Ukraine without waiting for the end of the war,” Svrydenko said.
“I believe that increased trade will bring our countries even closer.”
The announcement follows Trendyol’s recent launches in Germany, Azerbaijan, the Gulf States and the Central and Eastern European (CEE) markets.
The company sees high potential in Ukraine’s rapidly developing e-commerce market, an appetite for Turkish products and an opportunity to open up both domestic and international markets to Ukrainian brands through its world-class digital infrastructure and growing international footprint, read the statement.
Çetin and Bayraktar this week held a series of meetings with top Ukrainian officials, including Svrydenko and Strategic Industries Minister Alexander Kamyshin, to discuss the two Turkish companies’ international investment strategy.
Svrydenko underlined the importance of Turkish companies’ readiness to invest in Ukraine, without waiting for the war to end.
“Their interest extends beyond the swiftly advancing high-tech sector and defense industry during wartime. There’s also a keen interest in collaboration within the logistics and marketplace with an export focus,” she said.
The meeting explored ways to enhance cooperation and build stronger economic ties, Svrydenko stressed.
Earlier this month, another Turkish e-commerce giant, Hepsiburada, also announced plans to launch operations in Ukraine.
The company aims to start selling goods in Ukraine if a trial run is deemed successful, its CEO Nilhan Onal Gökçetekin told an interview with Bloomberg News.
“Ukraine is a difficult but important market for Türkiye,” Gökçetekin said. “ This is a strategic investment for us. In the future, (Ukraine) will normalize and we want to be ready.”