Trade turnover between Turkey and Tatarstan may grow up to $1 billion

29 July 2021


The volume of mutual trade between Turkey and Tatarstan is planned to reach $1 billion in the short term, Turkish Trade Minister Mehmet Mush said at a meeting with Tatarstan President Rustam Minnikhanov in Kazan on Thursday.


"I think in the short term we will be able to catch up and reach a volume of $1 billion," the Turkish Minister said.


He also assured that investment projects of Tatarstan companies in Turkey will be supported. "These are very valuable projects. The process on them is already underway. We will do our best for their successful implementation," Mush said.


The volume of trade between Turkey and Tatarstan in 2020 decreased from $480 million to $360 million a year earlier due to the pandemic, the meeting noted.


According to Minnikhanov, Turkey's investments in the republic's economy today amount to about $2 billion. "Turkey is one of the main foreign economic partners of Tatarstan, investing about $2 billion in the region's economy. About 60 Turkish companies work in Tatarstan today," the press service of the regional government quotes Minnikhanov as saying.


Turkey is one of the leading foreign partners of Tatarstan. The basis of products supplied by Tatarstan to Turkey is synthetic rubber, plastic products, organic chemical compounds, oil products, products of inorganic chemistry, wood products, etc. Imports from Turkey are represented by vehicles, mechanical and electrical equipment, products of ferrous and non-precious metals, plastics, furs, leather and glass, furniture, pharmaceutical and other products.

 

 

GSV "Russia - Islamic World"

Photo: official website of the President of the Republic of Tatarstan

Based on materials from TASS