WorldTurkey aims for balanced and more diversified trade with Russia

Turkey aims for balanced and more diversified trade with Russia

Turkey and Russia are the most influential players in Eurasian geography. This was stated by Turkish Trade Minister Mehmet Mush, speaking on Friday at the Turkish-Russian business forum in Moscow.

“Taking into account our close relations and the high potential of the economies of the two countries, the indicators of export of goods from Turkey to Russia are lower than they should be. It is very important to identify new areas of cooperation and form a balanced and more diversified trade, ”the minister said.

Mush said trade between the two countries fell 17 percent last year amid the impact of the novel coronavirus pandemic.

“The volume of Turkish exports to Russia in 2020 amounted to $ 4.4 billion, imports from Russia – $ 17.8 billion. Meanwhile, the first half of 2021 has seen a recovery in bilateral trade. Thus, Turkish exports to Russia increased by 35 percent, and imports – by 44 percent compared to the same period last year. The indicators for the first six months give hope to reach $ 30 billion in trade by the end of the year, ”said Mush.

The Turkish minister noted that investment is another important aspect of economic relations between Turkey and Russia.

“Today the volume of mutual investments between our countries is $ 20 billion. One of the important investments, reflecting the degree of bilateral cooperation, is the Akkuyu NPP. We believe this close collaboration can be combined with mining, energy efficiency, petrochemicals, pharmaceuticals and nuclear medicine, ”added Mush.

. . .(HAS).