Russia, Turkey Negotiate Contracts Worth $820Mln

MOSCOW (Sputnik) — Russian and Turkish businesses have made preliminary agreements on contracts that together are worth approximately $820 million within the framework of the 86th Izmir International Fair, Russian Deputy Industry and Trade Minister Georgy Kalamanov told Sputnik Tuesday.

"There has been a tight schedule of meetings during the whole period of the exhibition. According to the Russian Export Center alone, at least 196 meetings were held, which resulted in negotiations of contracts worth nearly $820 million," Kalamanov stated.

The deputy minister added that over course of the fair, Russia presented several new helicopters models, emergency equipment for miners, the newest machine tool equipment as well as an updated series of GAZ vehicles.

He also pointed out that interregional cooperation had become a new direction for bilateral collaboration. According to Kalamanov, apart from general exposition of the Russian Federation, joint exhibitions of the Tula, Lipetsk, Voronezh Regions, the Stavropol Territory, and the Republics of Tatarstan and North Ossetia were displayed at the Fair.

"Over 45 companies from different sectors of economy, including energy, coal and oil production, agriculture, construction and engineering, metal working and metallurgy, and tourism, have presented their products and services within the framework of the Fair," Kalamanov said.

"Russia is interested in increasing exports of industrial products and finding a mutually acceptable solution to eliminate the factors that impede our trade and industrial cooperation. One of the most important problems is the high level of [Turkey's] anti-dumping, special protective and import customs duties, for example, on metal products, fertilizers, tires, kitchen appliances, cosmetics, copper wire and other goods," Kalamanov said at the the 86th International Fair in Izmir.

In his opinion, the solution of this problem can be implemented in the text of the agreement on granting a preferential trade regime in the context of the development of mutually beneficial cooperation between Russia and Turkey, considering the positive momentum set by the leaders of the two countries.

"We presume that the conclusion of such agreements will favorably affect trade and investment cooperation between the member states of the Eurasian Economic Union [EAEU], including between Russia and Turkey," the deputy minister added.

The EAEU is an international organization comprising Russia, Armenia, Belarus, Kazakhstan and Kyrgyzstan that encourages regional economic integration through the free movement of goods, services, and people within the union. On Friday, Turkish Economy Minister Nihat Zeybekci said Turkey hoped to finish talks on the establishment of a free trade area with the EAEU in 2017.

The 86th Izmir International Fair with a theme "Innovation — Energy" was held on August 18-27. Russia has participated in the fair as a partner country.