AN AGREEMENT IS SIGNED BETWEEN DEİK/TURKEY-RUSSIA BUSINESS COUNCIL AND ULYANOVSK REGIONAL DEVELOPMENT AGENCY
Hosted by DEİK/Turkey-Russia Business Council, Ulyanovsk Region's Introduction Meeting was held on April 24, 2017 in Istanbul. It was attended by DEİK/Turkey Business Council President Tuncay Özilhan, Russian Federation's Istanbul Consul General Andrey Podyelişev, and Russian Federation's Ulyanovsk Governor Sergey Morozov.
DEİK/ Turkey-Russia Business Council President Tuncay Özilhan, during his opening speech in the meeting "It is a universally acknowledged fact that Turkey's relations with Russian Federation have ups anddowns in their history. Recently, due to some unfortunate events, our trade and economic relations have been affected. We can overcome these problems via patient stance of government and business communities. We will try to do everything possible to carry the partnership to a whole different level. As DEİK, we will try harder to establish new partnerships between Turkish and Russian companies and to incentivize mutual investments.
Russian Federation's Governor of Ulyanovsk Sergey Morozov expressed that Ulyanovsk Region is a significant industrial region and it operates in the fields of automotive, nuclear, construction material and tourism. The region's economy is expected to grow by 4-5%, it will achieve growth through increase in investment and business, strengthening of financial system and development of banking sector. Turkey and Ulyanovsk Region have been allies for a long time and Turkish investment in the region has surpassed 11 billion Rubles over the past 3-4 years in the sectors of education, industry, science, education and culture. However, Turkey's ranking in trade volume has regressed; thus, two countries should try harder to develop the relations. Many international companies have invested in Ulyanovsk Region; furthermore, bureaucratic obstacles are removed and special incentive program is in use to make regional investments more attractive. Russian Federation is working to improve region's capabilities in the sectors of renewable energy, manufacturing, furniture, food, transportation, logistics and medicine.
A cooperation agreement has been signed between DEİK/Turkey-Russia Business Council and Ulyanovsk Region's Development Agency.
Turkey-Russia Trade Figures (Ministry of Economy- 2016)
Turkish export to Russia: 1.7 billion USD Dollars
Main export items: Vegetable, fruit, vehicle accessories, textile, and oil products Turkish import from Russia: 15.1billion USD Dollars
Main import items: Oil and oil products, coal, aluminum and steel
Total trade volume: 16.8 billion USD Dollars
Trade balance: 13.4 billion USD Dollars
