Russia and Turkey: Resetting Economic Partnership

Abstract

Russian-Turkish economic relations, which were plagued by the global economic downturn as well as Russia’s economic sanctions against Turkey in  retaliation for the downing of a Russian fighter jet, are now recovering. Prior to these events, Russia and Turkey had enjoyed close economic ties since the collapse of the Soviet Union. Indeed, before the global economic crisis, bilateral trade between Russia and Turkey had been growing rapidly; foreign direct investments were increasing, the annual number of international tourists was on the rise, and cooperation in the field of energy was deepening. This article analyzes the current state and prospects of Russian-Turkish economic relations and concludes that the two countries are natural partners and should  develop their economic cooperation despite several difficulties.

Keywords

• Russia,Turkey,Energy Cooperation,Bilateral Trade,Pipelines,TurkStream

References

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