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Russia, Turkey are considering liberalization of trading relations — minister

November 28, 2014, 14:35 UTC+3 MOSCOW
It is necessary to ensure the liberalization of trading relations and create the proper legal framework for creation of a free trade zone, Russian Economic Development Minister says
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Turkey’s Customs and Trade Minister Nurettin Chanikli and Russian Economic Development Minister Aleksey Ulyukayev

Turkey’s Customs and Trade Minister Nurettin Chanikli and Russian Economic Development Minister Aleksey Ulyukayev

© TASS/Pavel Smertin

MOSCOW, November 28. /TASS/. Russia and Turkey are considering various options of a mechanism to liberalize trading relations, Russian Economic Development Minister Aleksey Ulyukayev has told the media.

“We were discussing the issue of preferential trading regimens,” Ulyukayev said. “Creation of a free trade zone is the mechanism that is to make allowances for Turkey’s participation in the EU Customs Union and for Russia’s membership of the Eurasian Economic Union — there are certain restrictions, so we are looking for a machinery that would ensure the liberalization of trading relations and create the proper legal framework for this.”

Ulyukayev believes that an agreement on liberalization in the sphere of services and investment might be a good idea.

He declared that on Monday, during Vladimir Putin’s visit to Turkey a protocol on mutual understanding and a “road map” addendum to it would be signed on the lifting of the existing barriers that hinder the normal development of the potential of Russian-Turkish trading, economic and investment ties,” Ulyukayev said.

At Friday’s meeting in Moscow Ulyukayev and Turkey’s Customs and Trade Minister Nurettin Chanikli agreed to monitor the road map’s implementation.

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