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Turkey-Russia Free Trade Agreement May Be Signed in Late 2017

© Sputnik / Evgeny Biyatov / Go to the photo bankTurkish Economy Minister Nihat Zeybekci
Turkish Economy Minister Nihat Zeybekci - Sputnik International
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Turkish Economy Minister Nihat Zeybekci said that a free trade agreement between Turkey and Russia may be signed at the end of 2017.

ISTANBUL (Sputnik) — Free trade agreement between Turkey and Russia may be signed at the end of 2017, Turkish Economy Minister Nihat Zeybekci said Sunday.

"During today's negotiations the sides agreed that a free trade agreement between our countries may be signed at the end of 2017," Zeybekci told journalists.

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He added that the parties agreed on the implementation of the four-year medium-term program.

Following the negotiations, Zeybekci and his Russian counterpart Alexey Ulyukaev signed the joint statement on the development of bilateral trade and economic relations.

Zeybekci added that Russia and Turkey will contribute 500 million dollars each to the Turkey-Russia Joint Investment Fund.

“We have discussed an important topic for both of the countries, namely, the establishment of the [Turkey-Russia] Joint Investment Fund by cooperative efforts of the Russian Direct Investment Fund and Turkish fund of capitals. The first step involves each state’s contribution of 500 million dollars,” Nihat Zeybekci said.

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