PM Yıldırım: Gov’t to announce results of economy board meeting on Dec 8

ANKARA

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The results of a recent economy coordination board (EEK) meeting will be announced in detail on Dec. 8, Turkish Prime Minister Binali Yıldırım has stated.

“We held the EEK meeting and our friends have now been undertaking technical work. We will make a detailed announcement on Dec. 8, when we return from our Russia visit,” Yıldırım said on Dec. 5, ahead of a two-day visit to Russia.

Top economy ministers and officials held the meeting late on Dec. 2 amid sharp decreases in the value of the Turkish Lira, which has been closely followed by the markets. The lira has recently been one of the worst hit emerging currencies due to several global and domestic developments, especially since the U.S. presidential elections. 

According to a written statement by the Prime Ministry, the first solid step on the road to conducting bilateral trade between Turkey and Russia in local currencies will be taken during Yıldırım’s Russia visit, Reuters reported on Dec. 5. 

All accommodation expenses and other expenditures of the Turkish delegation will also be paid in the Russian ruble, according to the Reuters report. 

Speaking in Istanbul on Dec. 3, President Recep Tayyip Erdoğan recently said Ankara is seeking to conduct its trade with Russia, China and Iran in local currencies, saying he had already made this proposal to Russian President Vladimir Putin. 

“I suggested the following: Let’s conduct our trade in local currencies. Whatever I buy [from you] I will pay for in Russian rubles, and whatever you buy from me you will pay for in Turkish Liras,” said Erdoğan, adding that he had already made the same offer to China and Iran.