Russia announced the beginning of the restoration of trade relations with Turkey


Russia resumes talks with Turkey on the draft programme of trade and economic cooperation for the years 2016-2019. This is stated in the government decree, which is published on the website of the Cabinet of Ministers.

In accordance with the document of activities of the joint intergovernmental Russian-Turkish Commission on trade-economic cooperation will be resumed. Re-start talks with the Turkish side on the draft agreement on trade in services and investment, and creating a Russian-Turkish joint Fund for the financing of investment projects in both countries.

Moscow and Ankara in 2014 began to conduct negotiations on drafting an agreement on preferential treatment to services and investment, but in November 2015, after two rounds of negotiations, the project was shelved.

In addition, since CPS removed the monitoring of the implementation by operators of a ban on the sale of tours to Turkey. However, the ruling requires the foreign Ministry to monitor security in Turkey Russians. This measure is called the regime of emergency, which was introduced in the country after a failed attempt of a military coup, said in a note to the resolution.

The document introduces amendments to the governmental decree from November 2015, which were introduced economic sanctions against Turkey.

Relations between Russia and Turkey worsened after November 2015, the Turkish air force shot down a Russian su-24. Moscow froze the trade and economic relations with Ankara banned the import of Turkish products. The hardest freeze relations impact on the tourist industry, as the Russian tour operators were forbidden to sell tours to Turkey.

Moscow demanded from Turkey to apologize, but they were received only in June 2016.

During the Russian sanctions, in January-may 2016 the trade turnover between Russia and Turkey fell by 43% to $6.1 billion (compared with $10.7 billion in the same period a year earlier), it follows from the statistics of the FCS.