Turkey boosts 2008-Russia eco ties despite political hurdles

Turkey became the fifth biggest trade partner for Russia, leaving behind countries such as Germany, Japan, Britain, France, India and South Korea.

Turkey boosts 2008-Russia eco ties despite political hurdles

As economic relations between Turkey and the Russian Federation has seen a firm increase since the collapse of the Soviet Union, the trade volume between countries was expected to reach as high as 40 billion USD by the end of 2008.

However, the bilateral trade imbalance also continued to grow against Turkey in 2008 as the country's exports to Russia amounted some 5.7 billion USD while the imports from its northeastern neighbor was 27.3 billion USD, of which some 15 billion USD constituted payments for natural gas, gas and crude oil.

Turkey became the fifth biggest trade partner for Russia, leaving behind countries such as Germany, Japan, Britain, France, India and South Korea, as Russia has became the biggest trade partner for Turkey for first time in the history of relations.

Political relations between Moscow and Ankara were also strengthened as the leaders of the two countries met nine times in the last three years.

The two countries signed an agreement in September 2008 to ease customs procedures and overcome a number of drawbacks, simplifying customs checks.

Peace initiative against war

Turkey has closely monitored the crisis erupted after Georgian military operation into South Ossetia and the ensuing Russian reaction and Ankara has made repeated calls for dialogue to solve the problem.

Turkish Foreign Minister Ali Babacan has been in constant contact with his Russian, Georgian and U.S. counterparts, as Prime Minister Recep Tayyip Erdogan visited Moscow after French President Nicholas Sarkozy to discuss Ankara's initiative for a stability platform in the Caucasus, which received significant support from the Russian side.

Russian Foreign Minister Sergey Lavrov visited Ankara and met with Babacan in September, discussing Turkey's peace initiative and bilateral relations.


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Last Mod: 01 Ocak 2009, 14:32
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