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Russia and Turkey switched to discussing specific details of Turkish Stream project

September 04, 12:50 UTC+3
Russia and Turkey have approached signing of a free trade zone agreement, Russia’s Economic Development Minister Alexei Ulyukayev also said on the sidelines of the G20 Summit in Hangzhou
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© Mikhail Metzel/TASS

HANGZHOU /China/ September 4. /TASS/. Russia and Turkey have switched to discussing specific details of Turkish Stream pipeline construction, Russian Economic Development Minister Alexei Ulyukayev said after the meeting the presidents of Russia and Turkey Vladimir Putin and Tayyip Erdogan.

"As for the Turkish Stream it is also in progress. They are discussing specific details. For example, a certain place where the pipe will enter the Turkish coast, allocation of a land plot for it. Very practical issues..." Ulyukayev said.

Mid-term program of economic cooperation

Russia and Turkey may sign a mid-term program of economic and scientific and technical cooperation by the end of the year, Alexei Ulyukayev said.

We handed a draft medium-term program of economic scientific and technological cooperation to our Turkish colleagues. We plan to sign it before the end of the year. I think that in October we will complete all text work so that the text was signed before the end of the year," Ulyukayev said.

He also said that the work on the establishment of Russian-Turkish Investment Fund is about to be completed.

"In late August, the necessary legislative changes were made, a partner of our Russian fund of direct investments was set up in Turkey ... Now colleagues are work at the level of experts. I think that in October-November, we will have a list of projects and financing in order to start working on these issues," the minister added.

Free trade zone agreement

Russia and Turkey have approached signing of a free trade zone agreement, Russian minister also said on the sidelines of the G20 Summit in Hangzhou.

"The meeting was focused on economic agenda, restoration of relations (in different areas) between our countries. We noted some progress on a number of issues, in particular, we are closer to an agreement on free trade in services and investments. Experts had a meeting in late August, and me and my colleague Minister (of Economy of Turkey Nihat - TASS) Zeybekci will meet in late October," Ulyukayev said.

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