Russian-Turkish trade on positive trend: Putin

MOSCOW

Meeting with businessmen from Turkey and Russia on Monday alongside Turkish President Recep Tayyip Erdogan, Russian President Vladimir Putin said the volume of bilateral trade shows a positive trend.

In agriculture alone, the volume of trade in 2018 rose 7% to reach $3 billion, said Putin in Moscow.

Putin also announced the establishment of a Russian-Turkish investment platform worth $1 billion, with the deal to be signed today between the Russian Direct Investment Fund and Turkiye Wealth Fund, to sponsor promising sectors of the economies of both countries, he said.

“Turkish investors directed the most investments, more than $2 billion, to the economy of Tatarstan, primarily to the special economic zone of Alabuga,” Putin said.

Large enterprises for the production of glass, plastics, and household chemicals have been established, he said.

“Russia and Turkey are working closely in the energy sector. There are flagship projects – TurkStream, Akkuyu – and besides, Russian oil companies Rosneft and Lukoil proved to be durable partners for Turkish business,” he said.

Putin said Turkish constructors work actively in Russia, with 2,000 venues worth some $70 billion in their order books.

Turkish companies took part in building Olympic and World Cup facilities, Putin added.

Attractive investments

“Good prospects are opening up for the business community of the two countries in new technologies, pharmaceuticals, agriculture, shipbuilding, and aviation construction. We will boost the investment attractiveness so that Turkish businessmen do not feel an excessive administrative burden,” he said.

Putin said Russia took 31st place in the World Bank ranking of freedom of doing business last year.

“Positive dynamics are being maintained for all key macroeconomic indicators of the country. Last year, GDP rose 2.3 percent, and industrial production grew almost 3 percent. All this makes it possible for foreign companies to work steadily and confidently to make long-term plans in Russia,” Putin said.

Russia plans to implement projects worth tens of billions of dollars, and this opens up prospects for business, he said.

“It is in our interests to create the necessary conditions for you to work, and yours – to implement these projects, to make a profit. We will do our best to support you. The companies you represent have considerable experience in implementing major projects. I propose that we talk openly about issues of concern to the Turkish and Russian business communities.

“We’re interested to know what steps should be taken on the state line to develop business contacts even more actively and invite Turkish businessmen to the St. Petersburg Economic Forum in June,” Putin said.