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    Moscow-Ankara Thaw to Bring $10Bln to Turkish Economy Over Next 2 Years

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    Return of Russian tourists to Turkey and restart of trade flows will bring an estimated $10 billion to the sagging Turkish economy over the next two years, a report by an Istanbul-based investment firm said Monday.

    ANKARA (Sputnik) — Ties between Moscow and Ankara soured last autumn after a Turkish jet downed a Russian plane over Syria. Russia ended charter flights and holiday package tours to Turkey as part of security measures.

    "We expect bilateral economic and trade ties between Turkey and Russia to improve and the current problems to be resolved. Kick-starting tourism and trade with Russia will bring additional $4.5-5 billion a year to Turkey, totalling some $10 billion in the next couple of years," the Ata Invest predicted.

    The November 24 airstrike at the Russian Su-24 plane prompted Russia to impose trade restrictions on Turkey. Last month, Kremlin spokesman Dmitry Peskov said that Turkish President Recep Tayyip Erdogan apologized for the air incident, in a letter to Russian leader Vladimir Putin.

    By doing so Ankara fulfilled Moscow’s condition for restoring the long-term partnership between the two countries. The letter also said a legal case was launched against a Turkish citizen suspected of involvement in the death of the downed plane’s pilot, which was another precondition.

    On June 29, Erdogan and Putin agreed in a phone talk to meet in person later this year. Putin then lifted the ban on charter flights to Turkey and ordered the government to negotiate trade revival with Ankara.


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