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Borsa İstanbul and the Development Bank of the Republic of Belarus signed a Memorandum of Understanding (MoU) that outlines the framework of action of their future cooperation. Within the scope of the MoU, the two institutions are expected to work closely in order to introduce Development Bank issued bonds to the Turkish capital markets.
On November 12, 2015, Borsa İstanbul attended the “Belarus Investment Forum”, a high-caliber event which was co-organized by the Foreign Economic Relations Board (“DEİK”) of Turkey and the Government of Belarus. The Forum is initiated with the purpose to give a venue for an open dialogue between the representatives of the business community and the Government of Belarus and to explore issues of common interest. Belarus was represented by the Prime Minister, Ministry of Economy, Ministry of Foreign Affairs, National Bank, Development Bank, National Agency of Investment and Privatization accompanied by major companies and financial institutions at the event, and this was matched by similar attendance from the Turkish side.
A Memorandum of Understanding was signed by Mr. Sergei Roumas, Chairman of the Development Bank, and Assoc. Prof. Dr. Mustafa Kemal Yılmaz, Executive Vice President of Borsa İstanbul in the presence of the Prime Minister of Belarus Andrei Kobyakov.
Following the ceremony, a one on one meeting, which brought together the representatives of The Development Bank, Borsa İstanbul, Capital Markets Board of Turkey and the Central Bank of Turkey with the aim to exchange views on the cooperation topics. At the meeting, the Turkish side featuring Borsa İstanbul conveyed detailed information in regards to the offerings of the Turkish capital markets and various scenarios and proposals were discussed within the context of a possible debt issuance.
At the conclusion of the meeting, Assoc. Prof. Dr. Yılmaz, Executive Vice President of Borsa İstanbul, stated: "We are delighted to see this MOU signed between our institutions hoping that it will help enhance the economic cooperation between the two countries. The MOU clearly fits in a range of agreements that have been signed between our countries and it signals the willingness of cooperation at the institutional level.”
On his part Mr. Roumas, Chairman of the Development Bank, thanked Borsa İstanbul and said he was confident that the MOU would prove to be a useful instrument not only for initiating a certain level of cooperation between Borsa İstanbul and the Development Bank, but also to help further strengthen the economic relations between Belarus and Turkey.
