Investing in Belarus as a foreigner is not an easy task, considering that much of the Belarusian economy is still state-controlled and this former Soviet republic remains far from western-style free market capitalism.

But as a clear sign that things are finally changing and that the quasi-authoritarian regime of President Alexander Lukashenko may be opening up to the world, Turkish business groups are reportedly examining possibilities to invest their money in Belarus.

Recently, a delegation of Turkish businesspeople and investors travelled from their hometown of Samsun (Turkey) to Minsk, the Belarusian capital, where they looked at ways to cooperate with their counterparts in the Belarusian Chamber of Commerce on potential construction projects, industrial development, forestry and manufacturing.

Over the years, Belarusian companies have already developed a good working relationship with firms in Turkey. This is most clearly evident when one considers that products imported from Turkey have increased five-fold in Belarus, while Belarusian exports have expanded by nearly 300 percent.

Turkish interests are clearly becoming more powerful in Belarus. According to the most recent statistics, at least 27 new business ventures have been officially registered in Minsk, all of which include the participation of Turkish investors.

Whether this new found cooperation will encourage other foreign investors to look towards the largely untapped Belarusian market remains to be seen, but much depends on the attitude of officials in Minsk.

If Turkish businesspeople are now being invited to invest and obstacles limiting foreign investment are being removed, there is a good chance that Belarus will relax property ownership and other business limitations for non-Belarusians in the foreseeable future.