Turkey prefers exporting products to Russian market

Türkiye Materials 17 September 2014 20:39 (UTC +04:00)

Baku, Azerbaijan, Sept. 17

By Rufiz Hafizoglu - Trend:

Turkey prefers exporting its products to the Russian market, the Economy Minister of Turkey Nihat Zeybekci said, Haber7 TV channel reported Sept. 17.

He said the trade turnover between Turkey and Russia has reached $32 billion.

"Turkey and Russia intend to increase the trade turnover to $100 billion," he added.

The minister noted that despite the intention to increase the trade turnover, there are several problems between the two countries that prevent this.

Zeybekci said that despite the sanctions that were imposed by the EU, U.S. and several other countries on Russia, Turkey will not leave the country at this difficult time.

He said that today about 40 percent of the freight traffic between Turkey and Russia is carried out by motor transport (about 40,000-43,000 trucks), adding that there are quotas in Russia for entry of trucks from Turkey.

"Ankara hopes that Moscow will abolish the quotas on Turkish trucks," Zeybekci stressed.

The minister noted that in 2013 only one part of trade operations worth $620 million was paid using the two countries national currencies despite the fact that they signed a contract in 2009 for transition to payments in foreign trade using Russian ruble and Turkish lira.

He added that currently Turkey prefers to trade with neighboring countries using lira, which meets Ankara's interests.

Earlier, the EU, U.S. and some other countries imposed a series of sanctions against Russia, which covered the access of commodities to markets. The sanctions also included large state-owned companies of Russia.

In response, Russia imposed a ban on imports of fruits, vegetables, meat and other food products from these countries.