Russian President Vladimir Putin will meet with Turkish Premier on July 17-18 in Sochi (Russia's south).
The source said that last year's trade turnover between Russia and Turkey was $11 billion. The other forms of bilateral interaction including the so-called "shuttle trade", haulage and tourism add up as well to the volume of the economic cooperation, which is currently $14-15 billion.
According to the source, Russia is the second largest Turkish foreign trade partner.
Turkish construction contract companies achieved a considerable progress in Russia. Within the last 15 years several hundred of contracts worth over $12 billion have been implemented or in the stage of implementation. The volume of the accumulated Turkish investments in Russia is $2 billion.
The countries expand mutually beneficial cooperation in the gas and energy spheres. The volume of the Russian natural gas deliveries to Turkey in 2004 via the Balkan and the Blue Stream pipelines was 14.5 billion cubic meters. With the transformation of the Blue Stream gas pipeline to the projected working capacity of 16 billion cubic meters the total volume of gas deliveries to Turkey will reach 30 billion cubic meters by 2010.
The source said that Russia and Turkey have also a great potential in the spheres of military-technical cooperation and air and space research. The work in this sphere is coordinated by the mixed committee of the military-technical cooperation. The last session of the committee was held in Ankara, Turkey, in September 2004.
