Russian sanctions: Turkey is to sign new commercial agreements with Azerbaijan and Kazakhstan in a bid to offset the economic effect of the trade embargoes imposed by Moscow in the wake of the shooting down of a Russian jet over Syria late last year. New trade agreements are being drawn up with the two countries which will come into effect at the beginning of next year.
Ankara is also looking to establish free trade agreements with Pakistan, Japan, Mexico, Peru and Ukraine.
Deputy Prime Minister Turkey’s Deputy PM Mehmet Simsek meanwhile, told journalists in Washington DC that the effect on the Turkish economy would be “miniscule” and also pointed out that trade between Turkey and the United States was way below the realized potential.
“There is great potential, yet when mutual performances in foreign trade and investments of both countries are considered, the actual is not even one-tenth of the potential. We need to rediscover the US,” he said.
Main photo by DFID – UK Department for International Development