Ulyukayev hopes for prompt Russia-Turkey economic relations recovery based on principles of gradualism, equal benefits
ST.PETERSBURG. Aug 9 (Interfax) - Russian Economic Development Minister Alexei Ulyukayev has expressed hope that Russia and Turkey will restore their previous positions in the bilateral trade in goods, services, as well as in tourism and transport.
"In accordance with the firm intent of our leaders to turn the negative pages of our history and reach new frontiers in our cooperation in trade, economy and investment, we have intensely been working on this subject in the recent weeks," Ulyukayev said at the meeting with representatives of Russian and Turkish business circles.
The Russian-Turkish intergovernmental commission, a joint mechanism to overcome barriers in trade, has resumed its work, he said.
"We expect that based on the principles of gradualism, parity and equal benefits, we will be able to promptly restore our positions with regard to [our] trade in goods and in terms of Turkish companies participating in certain categories of works in services markets in Russia, and in relation to the exchange of tourists and transport services," Ulyukayev said.
In addition, Ulyukayev revealed that the sides agreed to speed up the efforts to create a joint Russia-Turkey investment fund and also that the Russian side will be represented by RDIF (Russian Direct Investment Fund).
"The sides have agreed to accelerate the work on setting up a joint Russian-Turkish investment fund. On the Russian part, the Russian Direct Investment Fund will be a partner in this fund. The Turkish side has notified us that appropriate regulatory decisions will be in place as early as this month and the partner on the Turkish part will be nominated," Ulyukayev said.
He went on to highlight the significance of the fact that despite all difficulties in the bilateral relations, investors never stopped working. "The amount of investments made by each side tops $10 billion now," he said.
Ulyukayev underlined that the parties discuss several major projects and not only those in energy but also in metallurgy, chemical and petrochemical industries, as well as in agriculture.