Russia, Turkey talk trade oppotunities

ISTANBUL

Delegations led by Turkish Economy Minister Zeybekci and Russian Economic Development Minister Ulyukayev hold a meeting in Istanbul. DHA Photo

Turkish Economy Minister Nihat Zeybekci met on Sept. 16 with his Russian counterpart to discuss opportunities for Ankara to meet Moscow’s needs amid the latter’s trade war with the West.

Accompanied by their respective delegations, Zeybekci and Russian Economic
Development Minister Alexei Ulyukayev held a meeting in a hotel in Istanbul’s Yeşilköy district.

The meeting was expected to be dominated by potential trade alliance talks, after Moscow banned most foods from the European Union and the United States.

The ministers reportedly discussed potential areas for collaboration and bilateral problems.
In early August Russia banned food imports, worth about $9 billion, from the EU, the U.S., Canada, Australia and Norway, in response to trade sanctions over its role in the Ukraine crisis.

Turkey and Latin American countries such as Brazil will likely emerge as key winners from the Kremlin’s one-year ban on dairy, meat, fish, fruit and vegetables.

Officials in Turkey have predicted a near-doubling in their fruit and vegetable exports to Russia.
Turkey is currently the fifth largest exporter of food to Russia, its neighbor across the Black Sea, with $1.68 billion in sales last year.