The 2 international locations are set to spice up yearly turnover to $ 100 billion
Turkey and Russia have signed a roadmap for financial cooperation that envisages bringing bilateral commerce turnover to $ 100 billion a 12 months, Turkish President Recep Tayyip Erdogan instructed the press on Saturday.
“Throughout our bilateral assembly, we exchanged views on the additional improvement of our commerce and financial cooperation… Our purpose in commerce is $ 100 billion . On this regard, we wish to develop our cooperation in areas resembling power, commerce, tourism and agriculture. We’re decided to make sure a extra balanced quantity of bilateral commerce.
A memorandum of understanding, a type of a roadmap for our commerce and financial relations, was signed in Sochi by our commerce minister and Russian Deputy Prime Minister Alexander Novak,” Erdogan instructed reporters in Ankara upon his return from Sochi, the place he met with Russian President Vladimir Putin.
Turkey and Russia have additionally agreed to introduce the Russian ruble as a foreign money for bilateral commerce, Erdogan mentioned.
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“We agreed on the ruble as a [monetary] unit in commerce. Since we’ll conduct our commerce in rubles, this can in fact be a severe supply of revenue for each Turkey and Russia. As well as, there’s the ‘Mir’ card [Russian analogue of Visa]. 5 of our banks presently settle for it. There’s very severe progress on this situation, which is able to in the end enhance situations for vacationers coming from Russia. They may be capable of do buying and pay for resorts,” Erdogan mentioned.
In line with the Turkish president, throughout his go to to Russia representatives of the 2 international locations’ central banks held talks on additional enhancing mutual cooperation. He didn’t specify what particularly was mentioned on the conferences, nevertheless.
On Friday, Putin and Erdogan spent over 4 hours discussing a broad vary of points, from Ukrainian grain exports and commerce cooperation to Russian gasoline exports.
They agreed to “meet midway” relating to the 2 international locations’ wants in commerce and power, in keeping with the joint assertion. Following the talks, the Russian president praised the truth that commerce volumes between Russia and Turkey are steadily rising, having soared by practically 60% final 12 months and doubling within the first 5 months of 2022.
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