“The use of the Turkish lira and the ruble in the bilateral trade has been increasing. Turkiye’s exports to Russia in the Turkish lira have grown by 400% and Turkey’s imports from Russia in the lira have increased by almost 150%, whereas the imports in the ruble have gone up by 260%. This year, the energy trade has somewhat decreased as prices for energy products and commodities have gone down in the world,” the minister said Saturday at a meeting of the Russia-Turkey intergovernmental commission on trade and economic cooperation.
Trade between Moscow and Ankara reached a record $68 billion in 2022, the minister continued, adding that it could reach some $56 billion in 2023.
During the commission’s session, Bolat and Turkish Vice President Cevdet Yilmaz met with Russian Deputy Prime Minister Alexander Novak to discuss prospects of the bilateral economic ties.