According to Cavusoglu, the Russia-Turkey trade turnover has already reached $40 billion, while in early 2000s it stood at less than $5 billion.
"We have all the opportunities and potential necessary to bring this figure to $100 billion with common effort as the economies of our countries are complementary," the Turkish foreign minister said in an article written for the Russian Kommersant newspaper.
According to the minister, cooperation in the construction and tourism industries, as well as mutual investments which exceed $10 billion are of great importance to Ankara and Moscow.
On June 27, Kremlin spokesman Dmitry Peskov said that Turkish leader Recep Tayyip Erdogan in a letter addressed to Russian President Vladimir Putin apologized over the downing of a Russian Su-24 attack aircraft by a Turkish jet in November 2015 and extended condolences to the family of the pilot killed in the incident.
By doing so Ankara fulfilled one of the conditions put forward by Moscow following the incident that paralyzed the long-term partnership between the two countries. The letter also said legal proceedings were underway against the Turkish citizen allegedly involved in the Russian pilot’s death – another condition named by Russia in order to restore severed ties.