RUSSIA, November 25 - Deputy Prime Minister Alexander Novak paid a working visit to the Republic of Türkiye.

The Deputy Prime Minister met with Turkish Vice President Cevdet Yilmaz and Minister of Trade Ömer Bolat to discuss current issues in Russia- Türkiye bilateral cooperation. As co-chair of the Joint Russian-Turkish Intergovernmental Commission on Trade and Economic Cooperation, he also conducted the 18th plenary meeting.

Alexander Novak highlighted key areas of bilateral cooperation, including energy, agriculture, finance and banking, industry, transportation and logistics, customs and tourism. The Russian side also noted positive developments in many other areas of bilateral cooperation, such as healthcare, space, standardisation, accreditation, land registration, education and sports.

In 2022, Turkey became Russia's second largest trading partner, with bilateral trade almost doubling and growing by 85.8 percent. From January to October 2023, bilateral trade increased by 49.8 percent in physical terms compared to the previous year.

"There is a stable supply of Russian gas to Türkiye. Cooperation in the use of nuclear energy for peaceful purposes is developing successfully. The construction of the Akkuyu NPP, our flagship project, is currently underway. Full-scale construction work is being carried out at all four nuclear power plant units, making Akkuyu one of the largest nuclear construction sites in the world," Alexander Novak said.

The Deputy Prime Minister expressed Russia's interest in expanding cooperation in the nuclear sector, including the implementation of a renewable energy project at the Akkuyu NPP to produce additional volumes of electricity. Russia also expressed interest in involving its contractors in the construction of the Sinop nuclear power plant and low-power nuclear plants, as well as utilising non-energy sector technologies in Türkiye.

Russia and Türkiye have good prospects for cooperation in nuclear medicine, production of rare metal products, composite materials, energy storage technology based on lithium-ion batteries, as well as  water desalination, water treatment, and waste incineration. Joint projects in metallurgy, automotive, light and chemical industries are being discussed.

Agricultural trade between Russia and Türkiye grew by 4.2 percent in the ten months of 2023 compared to the same period in 2022. The safety of food products from both countries has improved. Additionally, Turkish destinations accounted for 22 percent of all trips abroad by Russian tourists in the first three quarters of 2023, making up 13.2 percent of foreign tourist flow in Türkiye. The meeting participants discussed transport accessibility, free entry procedures, non-cash payments, financial transactions, tourist safety in Türkiye, and the potential for expanding cruise traffic between the two countries on the Black Sea.

Alexander Novak extended an invitation to representatives of the Turkish government and business to participate in two important events: the Caucasus Investment Forum in May 2024 and the Russian Energy Week scheduled for September 26–28, 2024. The purpose of these events is to promote intergovernmental dialogue and showcase advancements in energy equipment and technologies.

At the conclusion of the meeting of the Russian-Turkish Intergovernmental Commission on Trade and Economic Cooperation, the parties signed a final protocol. Additionally, a Memorandum of Understanding was signed between the Main Directorate for Registration of Property Rights and Cadastre of the Turkish Ministry of Environment, Urbanisation and Climate Change and the Federal Service for State Registration, Cadastre and Cartography of Russia.