Ankara expects energy and transport cooperation with Moscow to deepen
Bilateral trade between Russia and Turkey grew 100% in April, according to Turkish Foreign Minister Mevlut Cavusoglu.
The minister attributed the surge in commerce to soaring energy prices arising from the crisis that has hit Europe over the past several months.
Cavusoglu said Moscow and Ankara continued to boost cooperation in various sectors of the economy, including energy and transport, “despite all the pressure.” He added that Turkish Airlines continues to fly to Russia.
“We are seeing positive results from this process,” the minister said ahead of a meeting with his Russian counterpart Sergey Lavrov.
In March, Turkish President Recep Tayyip Erdogan said that Ankara could accept the use of the ruble to carry out trade with Russia. At the same time, the Assembly of Turkish Exporters said that the disconnection of Russian banks from SWIFT would boost trade between the two countries in national currencies.
Russia is one of Turkey’s main trading partners. The country’s biggest exports to Turkey are commodities such as refined petroleum, crude oil and wheat. Trade between the two countries has been growing by about 10% annually over the past several years.
Last August, the Turkish trade ministry said Ankara was determined to bring the overall volume of commercial exchange between the countries to $100 billion a year.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.