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Joint investment fund of Russia and Turkey might start working next year

December 06, 2016, 17:44 UTC+3
Russia's Prime Minister Dmitry Medvedev noted that the negotiations with his Turkish counterpart Binali Yildirim were meaningful
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© Dmitry Astakhov/Russian Government Press Office/TASS

GORKI, December 6. /TASS/. Joint investment fund of Russia and Turkey might start working next year, Russia's Prime Minister Dmitry Medvedev said on Tuesday after talks with his Turkish counterpart Binali Yildirim.

"We also discussed the issue of forming a new mechanism for economic and financial co-operation, including joint investment fund. The fund might start working next year. It will accumulate funds to finance various projects, including the field of high technologies," Medvedev said.

Medvedev noted that negotiations with Turkey’s Prime Minister Binali Yildirim were meaningful.

"We held meaningful talks. The widest range of topics was discussed, including trade, investments, oil and gas and nuclear power sector, high technologies and agriculture - actually everything characterizing our relations," Medvedev said after the meeting.

"I am confident that together we have turned a difficult page in the Russian-Turkish relations," he said. He pointed to the need to learn lessons from the past and build new relations in a pragmatic manner.

Medvedev noted that Turkish specialists working in Russia help to implement major projects, including those related to preparations for the 2018 FIFA World Cup. "You know that a number of restrictions are still in effect, while, on the other hand, a considerable part of restrictions on attracting Turkish experts has been lifted," the Russian premier said.

Russia is ready to continue moving towards attracting specialists from Turkey on the basis of reciprocity in other areas and with a focus on the Eurasian Economic Union (EAEU), Medvedev said.

Turkish Stream

Russia will start to ratify the agreement on the Turkish Stream in the near future, Medvedev said.

According to the Prime Minister, the ratification of the agreement in Turkey "gives confidence that this project will be implemented." "In the near future we have to move on to ratification procedures in Russia," he said. On December 2, the parliament of Turkey has passed a bill on ratifying an intergovernmental agreement with Russia on constructing the Turkish Stream gas pipeline.

Medvedev said Russia and Turkey will discuss construction of Turkish Stream pipeline extension to Europe.

"In any case I am certain that this type of solutions will be to the benefit of Europe and will contribute to the diversification of routes for gas supply, but at the same time it is not competing with any other gas pipelines in the sense that everyone has their own place," he said.

He noted that the Turkish Stream is intended to add to the possibilities of gas supplies to the European market.

Akkuyu nuclear power plant

Turkey is ready to confirm a "strategic investment’ status to Akkuyu nuclear power plant, Yildirim said after talks with Medvedev.

"We made a decision to assign a strategic status to Akkuyu; this will be done definitely," Yildirim said. Ankara intends to speed up licensing process within the framework of this project," he added.

First block of the Akkuyu Nuclear Power Plant in Turkey might be launched in 2023, according to Medvedev.

He noted that for various reasons Akkuyu NPP project developed more slowly than was originally planned. "However, today we noted that now it is possible to develop the project faster in order to prepare the first bloc for commissioning by 2023, that is, by the 100th anniversary of the Turkish Republic," the Prime Minister said.

Medvedev said that Turkey is ready to confirm a "strategic investment’ status to Akkuyu NPP. "We made a decision to assign a strategic status to Akkuyu; this will be done definitely," Yildirim said. Ankara intends to speed up licensing process within the framework of this project," he added.

 

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