Russia-Turkey trade doubles — RT Business News


Bilateral trade between Russia and Turkey saw a huge 100% growth in April, according to Turkish Foreign Minister Mevlut Cavusoglu.

The minister attributed the surge in trade to soaring energy spending resulting from the crisis that has hit Europe in recent months.

Cavusoglu said that Moscow and Ankara continue to strengthen cooperation in various sectors of the economy, including energy and transport, “despite all the pressure. He added that Turkish Airlines continues to fly to Russia.

“We are seeing positive results from this process,” declared the minister before a meeting with his Russian counterpart Sergey Lavrov.


In March, Turkish President Recep Tayyip Erdogan said Ankara could accept the use of the ruble to trade with Russia. At the same time, the Assembly of Turkish Exporters said that the disconnection of Russian banks from SWIFT would boost trade between the two countries in national currencies.

Russia is one of Turkey’s main trading partners. The country’s main exports to Turkey are products such as refined oil, crude oil and wheat. Trade between the two countries has been growing at around 10% per year over the past few years.

Last August, Turkey’s Commerce Ministry said Ankara was determined to raise the overall volume of trade between the countries to $100 billion a year.

For more stories on economics and finance, visit RT’s business section

You can share this story on social media:


RT

Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button