Türkiye, Russia work on joint projects, expanding cooperation

The Turkish capital Ankara hosted the 18th meeting of the joint intergovernmental Russian-Turkish Commission on trade and economic cooperation.

Russian Deputy Prime Minister Aleksandr Novak led the Russian delegation, while Trade Minister Omer Bolat headed the Turkish delegation on Saturday's meeting.

Bolat said, for his part, that the Russian and Turkish delegations have been working hard for three days and have signed two documents that pave the way for stronger economic ties.

While the energy sector has traditionally been the focus of Russian-Turkish cooperation, Bolat emphasised joint work in agriculture, industry, and customs is also increasing.

The minister also marked tourism as an area that unites the people of the two countries.

"We have signed the protocol and I am sure that with the implementation of the provisions of the protocol we will continue to develop and expand our cooperation in these areas," he said.

Establishment of a gas hub in Türkiye

Russian Deputy Prime Minister Aleksandr Novak said on Saturday that he expects the work on the establishment of a gas hub in Türkiye will reach a practical stage in the near future.

A roadmap is being prepared by both sides for this purpose, Novak told Rossiya 24 TV channel following a delegation-level meeting between Russia and Türkiye.

"The Turkish delegation plans to arrive in St. Petersburg to get acquainted with Gazprom's developments in this area, and I am sure that agreements will be reached in the near future on the practical implementation of this project," Novak asserted.

He said Russian-Turkish cooperation is expanding, with the possibility of joint projects in a number of areas, including advanced industries such as rare metal processing, composite materials manufacturing, and energy storage devices based on lithium-ion batteries.

Türkiye-Russia trade relations

He praised Türkiye's transit role, saying it remains one of Russia's most important import and export corridors.

"Next year, the Akkuyu nuclear power plant, the flagship project that is being implemented, will provide the first energy to Turkish consumers. We are also considering the development of cooperation in humanitarian, educational, and cultural relations," he said.

Novak said Türkiye ranked second on Russia's list of top trade partners last year, and the sides will continue working to take annual bilateral trade turnover to $100 billion on the directions of the two countries' presidents.

The issues of the financial interaction to ensure settlements in trade, and the possibility for tourists to pay while on a visit to Türkiye, were also on the agenda, he noted.

"This year, we expect a record number of Russian tourists to visit Türkiye. Over 5 million tourists are expected to visit Türkiye by the end of the year," he said.

According to Novak, the sides during the meeting also discussed new projects in the nuclear domain, including the possibility of the Russian nuclear corporation Rosatom participating in the construction of the second Turkish nuclear power plant in the northern province of Sinop.