Trade Minister Ruhsar Pekcan met with the Co-chair of the Turkish-Russian Intergovernmental Joint Economic Commission (KEK) and Energy Minister of the Russian Federation Aleksandr Novak. Pekcan, in the meeting held with video conferencing method and delegations attended, stated that the balance in bilateral trade and the use of local currencies should be increased.
During the meeting of Minister Pekcan with Novak, Deputy Minister of Transport Selim Dursun, Ministry of Agriculture and Forestry, Energy and Natural Resources and Central Bank officials were included in the Turkish delegation. On the Russian side, as well as Minister Novak, Deputy Minister of Energy Anatoli Yanovski, Economic Development, Agriculture, Transportation ministries, Customs and Central Bank officials were present.
In the meeting held with the video conference system, the issues related to the identification and solution of the barriers to trade, which are in line with the close friendship relations between the two countries, were discussed, primarily in the difficult period of the world due to the new type of coronavirus (Kovid-19) epidemic.
In addition, measures to increase and facilitate trade, cooperation on energy, agricultural trade and transportation were among the priority agenda items in order to reach the target of 100 billion dollars of trade volume set by the presidents of the two countries.
During the meeting, Turkey's need was underlined that the removal of obstacles to increased exports to Russia.
While evaluating energy issues, which are an integral part of Turkish-Russian commercial and economic relations, the steps to be taken to put the first part of the Akkuyu Nuclear Power Plant Project into operation in 2023 were discussed.
Mutual sensitivities were expressed about agricultural products, an important item in the mutual trade of the two countries.
Applied only to Turkey by Russia and Pekcan stating that any periodicity and in that the need to dispense with a basis which leads to major problems and uncertainties due to the lack tomato quota application, the international trade rules need of said application both stated that contrary to the cooperation spirit between the two countries he.
Pekcan stated that the processes of Turkish companies that are waiting for approval to be included in the list of companies that are allowed to export animal products to Russia should be completed without delay.
International transportation is also addressed
In the meeting, where international transportation and logistics, which are among the sectors most affected by the Kovid-19 outbreak, are also evaluated, Pekcan pointed out that the importance of road quotas has increased enormously and that trade with the countries in the region has become unsustainable with a limited number of quotas.
Ministers Pekcan, particularly stressing the need to increase their bilateral and transit road quotas with Russia, Turkey and the existing conditions in Baku-Tbilisi-Kars railway line could be an important alternative for transportation between Russia, while the sea route to transport one of the ports issue appeared to Turkey transportation He pointed out the importance of eliminating it immediately and implementing regular Ro-Ro flights.
“Trade with local currencies should be increased”
On the other hand, Pekcan noted that the meeting should balance the bilateral trade and increase the use of local currencies.
In the meeting, the Turkish-Russian Joint Economic Commission (KEK), whose work was postponed due to Kovid-19, was held in the last quarter of this year. An agreement has been reached to be held in St. Petersburg, and according to the course of the outbreak, through videoconferencing.
It was agreed to complete the meetings of the Trade, Investment and Regional Cooperation, Energy, Transportation working groups within the body of KEK in June, and to develop concrete solution suggestions and work schedules to be presented to KEK co-chairs by completing the work of the other working groups until August.
foreign trade between Russia and Turkey
Turkey's exports to Russia in 2019 for $ 4,1 billion, while imports from these countries was realized as 23,1 billion dollars.
This year's fourth quarter 4 percent of Turkey's exports to Russia increased to $ 7,5 billion. In the same period, imports from Russia decreased by 1,3 percent to $ 13,8 billion.
Turkish contracting firms have undertaken 79,7 thousand 2 projects worth a total of 28 billion dollars in Russia so far. Russian direct investments in Turkey to approximately 6,2 billion dollars, while the company, direct investments of Turkish companies in these countries has exceeded $ 1 billion.
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