Trade with Russia should reach $100B: Minister
The two countries' bilateral trade, which was $33.3 billion in 2012, stood at $25.7 billion in 2018, Ruhsar Pekcan said during the 16th Turkey-Russia Joint Economic Commission (JEC) meeting, in the Mediterranean resort city Antalya.
Turkey's exports to the country were $3.4 billion, while its imports were $22.3 billion, Pekcan said, underlining that trade between the countries should be balanced.
"There is serious potential [between Russia and Turkey], the governments are ready to provide all support to business people," she said.
Russia imports house appliances, freezers, construction materials, furniture, ready-made clothes and medicine from the world, Pekcan underlined, adding: "Turkey exports all of these products to the world with the most competitive prices."
Urging the increase of trade with indigenous currencies, she noted that Russia conducted 12% of its exports and 0.5% of its imports in this manner.
"We expect Russia contribute to increasing trade with local currencies," she noted.
The two countries' bilateral investments is currently around $20 billion, she added, stressing that there was a large potential in this area as well.
Lauding Russian President Vladimir Putin's decision to lift visa requirements for Turkish holders of certain passports, Pekcan called for a return to the visa-free regime of 2015.
For his part, Russian Energy Minister Alexander Novak, said bilateral trade between Turkey and Russia was $10 billion in the first five months of 2019.
There is a greater potential between the two countries, which have good relations, he added.
He also said their bilateral investment amount -- $20 billion -- was not enough.