Turkey, Tatarstan to work together on energy resources

Turkey and the Republic of Tatarstan, a federal subject of Russia, can work together in energy resources, Economy Minister Nihat Zeybekci said on Friday. "Both nations have ties, and so should seek to further each other's interests," Zeybekci said, after a meeting with President Rustam Minnikhanov of Tatarstan as part of his visit to the oil-rich Russian federal subject. Zeybekci said Turkey provides incentives to Turkish business people to invest in Tatarstan, adding: "This will increasingly continue." "Turkey has a lack of raw materials and intermediate goods in energy resources, and Tatarstan is an important source of them," Zeybekci said. He also said that Turkey and Russia aimed to increase their trade to $100 billion in a short period from $32.5 billion last year. Minnikhanov said that Turkish firms have already implemented large investment projects in the region. "Over 25 percent of our foreign investments come from Turkish companies," Minnikhanov said. Zeybekci joined the Tatarstan-Turkey Economic and Trade Cooperation Forum and inaugurated Turkish-owned factories in the Alabuga Industrial Zone.