MOSCOW: Ankara is considering entering into a free trade agreement with Russia as soon as next year, Turkish Trade Minister Bulent Tufenkci told RIA Novosti. The two countries want to restore trade and economic relations following a dispute over the downing of a Russian jet last year.
“Considering the process of normalization in our relations with Russia and the possibility of signing a free trade agreement in 2017, we expect growth in all the areas of the economy and trade,” said the minister. He added the sides will continue to discuss trade in national currencies – the Turkish lira and the Russian ruble. “That will ensure mutual trade and expand its capabilities,” said Tufenkci.
According to the minister, Russia remains Turkey’s main trading partner and Moscow’s decision to lift the ban on some fruit imports from Turkey is a very important step in restoring relations. Following the downing of a jet last November, Moscow imposed sanctions on Turkish goods, fruit and vegetables, as well as travel restrictions and reintroduced visa rules for Turkish people. As a result of the measures trade between the countries contracted 25 percent to $23 billion.
