Moscow, Ankara to sign FTD in 2017

By Azernews

By Gunay Hasanova

Russia and Turkey may ink a free trade deal in 2017, said Turkish Trade and Customs Minister Bulent Tufenkci, RIA Novosti reported.

The Turkish minister stressed that Turkey could sign a pact on free trade with Russia as soon as next year and will hopefully see a rise in economic figures.

 "Considering the process of normalization in our relations and the possibility of signing a free trade agreement in 2017, we expect a rise in indicators across all spheres of economy and trade with Russia," the minister added.

Tufenkci went on to say that the Turkish and Russian trade ministries are considering  the issue of using their national currencies in bilateral trade, which will "give an advantage to our countries, reenergize bilateral trade and create new trade opportunities".

The minister added that Russia will soon take more Turkish-grown fruits and vegetables off its sanctions list.

"The Russian market has reopened its doors to us. We can already import oranges, tangerines, apricots, peaches, and plums. We are continuing talks with Russia and we know that Russia will soon allow sales of other crops," Tufenkci said.

“We have carried out exports in the amount of $98.5 million to Russia, including the newly approved for import to Russia goods worth $12.6 million, between October 11-26, 2016…After all the restrictions and other barriers lifted, it will give even a greater impetus to the development of our trade relations, " the Turkish minister said.

The Turkish trade minister said that prior to sanctions Russia imported around 40 percent of Turkey’s fruits and vegetables.

Russia banned imports of bell pepper, pomegranates, aubergines, lettuce, Iceberg lettuce, marrows and pumpkins from Turkey due to phytosanitary considerations in spring 2016.

Prior to that Russia restricted imports of oranges, tangerines, grapes, apples, pears, apricots, peaches and nectarines, plums, wild strawberries, strawberries, tomatoes, cucumbers, cauliflower, broccoli, yellow onions, as well as frozen turkey and chicken from Turkey starting January 1, according to the government decree on implementation of presidential decree on special economic measures against Turkey.

The Russian government has decided to allow on its market a number of Turkish agricultural products, including citrus, said Russian leader Vladimir Putin on October 10 after talks with Turkish counterpart Recep Tayyip Erdogan.

A day later, the government issued a decree authorizing the importation of certain fruits - the embargo lifted in respect of fresh and dried oranges and tangerines, fresh apricots, peaches and nectarines, plums and thorns.

Relations between Turkey and Russia broke down for about seven months after Turkey shot down a Russian warplane in November 2015. However, relations have improved since the August meeting of the two presidents.