Turkey and Russia want to conclude free trade agreements

While the US is preparing new sanctions against Russia and the EU is expected to join, Turkey is in talks with Moscow on a free trade agreement.

A free trade agreement between Turkey and Russia could be signed at the end of 2017, Turkish Economy Minister Nihat Zeybekci said. He added that the parties agreed to implement a four-year medium-term program. Following the talks, Zeybekci and his colleague Alexei Ulyukaev signed a joint statement on the development of bilateral trade and economic relations.

Zeybekci added that Russia and Turkey will contribute $ 500 million each to the Turkish-Russian Joint Investment Fund. “We discussed an important topic for both countries, namely the creation of the Joint Investment Fund,” said Nihat Zeybekci.