Transactions between Russia and Turkey

Turkey proposes to Russia to directly use the national currencies of the two countries in their mutual calculations in the framework of foreign trade, announced the press service of the Ministry of Economic Development of Russia. The announcement was made by the meeting of ministers of the two countries under the Business-G20 forum in Australia.

Russia - Turkey

Russia – Turkey

The issue of transport of the current account between the two countries by directly converting national currencies discussed in committee work for bank-dealer issues and is naturally connected, as noted by the news agency RIA-Novosti, with the cold relations between Russia and the West and in particular the U.S. because of the crisis in Ukraine.

Russia - Turkey

Russia – Turkey

In 2013 the volume of bilateral trade between the two countries reached 32.7 billion dollars with Russia becoming second after the EU partner on foreign trade of Turkey, which in turn is the eighth partner of Russia.

Russian currency

Russian currency

The volume of bilateral trade dropped last year by 4.5%, which is attributable, as the Russian minister believes, the unfavorable global economic conditions, but between the two countries discussed the further upgrading of the existing business by creating a Turkish transport – accounting center in Russia, which will be linked to the sea ports, airports, and rail and road transport.

Turkish Lira Currency

Turkish Lira Currency

In a previous installation of the Russian Foreign Minister expressed the hope that, the drop in bilateral trade with Turkey is temporary.

By Nicole P.

468 ad

Leave a Reply