Turkey can quintuple trade volume with Russia: Dep. PM

By Emre Gurkan Abay

MOSCOW

Turkey can increase the trade volume with Russia to $100 billion, Deputy Prime Minister Mehmet Simsek said Friday.

"Our current trade volume [with Russia] is around $20 billion and we can easily quintuple it," Simsek told Anadolu Agency following a meeting with Russian businesspeople in Moscow, organized by the country's largest bank, Sberbank.

"There is a strong momentum in mutual investments and it needs to be diversified," the minister said, adding Turkey and Russia had "very strong" potentials.

"Our doors are open to investors. When Turkey and Russia come together, they will both create added value and contribute to regional peace and security," Simsek said.

The deputy prime minister is scheduled to meet his Russian counterpart Arkady Dvorkovich later on Friday.