3/14/2011

Turkey, Russia eye increased cooperation in business, trade

Today’s Zaman - Turkey and Russia will start two-day talks on Tuesday in an intergovernmental council to further improve bilateral relations, with the main focus on trade and business.

The two countries agreed last year to launch a high-level strategic cooperation council, an intergovernmental body that is to be led by Russian President Dmitry Medvedev and Turkish Prime Minister Recep Tayyip Erdogan. Erdogan, accompanied by a number of cabinet members and a large business delegation, is to visit Russia on March 15-17 to attend the second meeting of the Turkey-Russian Federation High Level Cooperation Council.

The two countries cooperate in a number of key areas and have abolished visa requirements for short duration visits. Russia is building Turkey’s first nuclear power plant in Akkuyu, Mersin on the Mediterranean shore, while a pipeline project to carry Russian oil to world markets via Turkey is underway.

The trade volume between Turkey and Russia increased 15.7 percent last year over 2009, reaching USD 26.6 billion. Both countries are keen to boost the trade volume to USD 100 billion over the next five years.
Turkey; russia; turkish-russian; recep tayyip erdogan; akkuyu; nuclear energy; dimitry medvedev

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