(MENAFN) Turkey and Russia have inked an economic collaboration roadmap that aims to increase bilateral trade turnover to $100 billion per year, Turkish President Recep Tayyip Erdogan announced to the press on Saturday.
“During our bilateral meeting, we exchanged views on the further development of our trade and economic cooperation… Our goal in trade is $100 billion dollars. In this regard, we want to develop our cooperation in areas such as energy, trade, tourism and agriculture. We are determined to ensure a more balanced volume of bilateral trade. A memorandum of understanding, a kind of a roadmap for our trade and economic relations, was signed in Sochi by our trade minister and Russian Deputy Prime Minister Alexander Novak,” Erdogan informed journalists in Ankara upon his return from Sochi, where he had discussions with Russian President Vladimir Putin.
Erdogan also stated that Turkey and Russia have agreed to use the Russian ruble as a currency for bilateral trade.
“We agreed on the ruble as a [monetary] unit in trade. Since we will conduct our trade in rubles, this will of course be a serious source of income for both Turkey and Russia. In addition, there is the ‘Mir’ card [Russian analogue of Visa]. Five of our banks currently accept it. There is very serious progress in this issue, which will ultimately improve conditions for tourists coming from Russia. They will be able to do shopping and pay for hotels,” Erdogan highlighted.
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