Trade Minister Ruhsar Pekcan confirmed yesterday that Turkey and Russia have agreed to work on removing trade barriers impeding the development of bilateral trade.
Minister Pekcan during a recent visit to Moscow held bilateral meetings with Russian Energy Minister and Joint Economic Commission Co-chair Alexander Novak. In a statement to Anadolu Agency (AA), the trade minister said that the projects to boost bilateral trade volume with Russia, currently at $25.7 billion, are making progress in accordance with the $100 billion target set by President Recep Tayyip Erdoğan and his Russian counterpart Vladimir Putin.
Out of the current volume, $13.3 billion comes from Turkey's energy imports, Pekcan noted. "In our meetings, we have emphasized the necessity of a more balanced and sustainable trade volume," she said. "We have made a common decision toward eventually lifting all the barriers, obstructing the expansion of the trade volume following a more balanced and sustainable trend." Apart from the Joint Economic Commission meetings, Turkey and Russia have also formed different working groups.
In the first three months of this year, Turkey's exports to Russia rose 6.5 percent to $868 million, while imports from Russia dropped 9 percent to hit $5.4 billion.
Please click to read our informative text prepared pursuant to the Law on the Protection of Personal Data No. 6698 and to get information about the cookies used on our website in accordance with the relevant legislation.
6698 sayılı Kişisel Verilerin Korunması Kanunu uyarınca hazırlanmış aydınlatma metnimizi okumak ve sitemizde ilgili mevzuata uygun olarak kullanılan çerezlerle ilgili bilgi almak için lütfen tıklayınız.