Kazakh Minister Bolat Meets with Russian Deputy Prime Minister Novak – Current Updates
Turkey and Russia Sign Protocol to Boost Economic Cooperation
Minister of Commerce Ömer Bolat and a delegation from the Ministry of Commerce recently met with Deputy Prime Minister of the Russian Federation Aleksandr Novak and senior officials at the Ministry of Commerce Söğütözü Campus in Ankara to hold the 18th Term Meeting of the Intergovernmental Joint Commission on Turkey-Russia Trade and Economic Cooperation. Following the closed-door meeting, Bolat and Novak signed and implemented the protocol text that emerged as a result of joint work.
In a statement to the press, Minister Bolat expressed his desire to elevate the relationship between Turkey and Russia by implementing the articles in the protocol. He emphasized that the protocol, which covers various topics such as trade, customs, energy, agriculture, industry, standardization, transportation, tourism, and contracting, serves as a roadmap for the economic relations between the two countries in the coming years.
Bolat highlighted the historical ties, good neighborly relations, and common interests between Turkey and Russia as the main factors that determine the bilateral relations. He reiterated the commitment to contributing to the welfare of the people of both countries by accelerating mutual efforts.
The minister also emphasized the significant progress made in trade, tourism, and energy between Turkey and Russia in recent years. He pointed out that the bilateral trade volume exceeded 68 billion dollars in 2022, and more than 6 million Russian tourists are expected to visit Turkey by the end of the year. Bolat stressed the intensive efforts to develop balanced and sustainable trade between the two countries, with the goal of reaching a 100 billion dollar trade volume.
In addition to trade and tourism, Bolat underlined the importance of bilateral investment and contracting relations. He noted that Turkish investments in Russia and Russian investments in Turkey have made significant contributions to both economies. Bolat expressed the commitment to increasing mutual investments and highlighted the readiness of Turkish contractors and technical consultancy firms to contribute to the further development of Russia’s infrastructure and superstructure.
Regarding transportation and logistics, Minister Bolat stated the intention to diversify logistics relationships in order to facilitate faster and safer transportation of products between the two countries. The signing of the protocol marks a significant step towards strengthening the economic cooperation and partnership between Turkey and Russia.
