Share

Putin to push trade in Turkey

Moscow - Russian President Vladimir Putin's visit to Turkey on Monday will have trade and energy issues at its heart, but is not expected to bridge deep differences over Syria and Crimea.

The two issues have tested a relationship usually kept on track by mutual economic advantage: Russia is Turkey's main energy supplier, and Ankara is Moscow's second biggest trade partner after Germany.

Turkish President Tayyip Erdogan has strongly criticised Russia's backing for Syrian President Bashar al-Assad. And Turkey has strong links with the Muslim Tatar population of Crimea, which Russia annexed from Ukraine in March.

With Erdogan and Putin set to chair the fifth annual meeting of a council to improve trade and relations, several deals are expected to be signed, officials on both sides said.

State monopoly Rosatom, which is building Turkey's first nuclear plant, expected to be worth $20bn, will continue pushing for "investor status", which would cut tax on profit to 2% from 20, Putin's top foreign policy aide Yuri Ushakov told journalists on Friday.

Turkey's imminent ascension to the presidency of the G20 makes bilateral ties particularly important, Ushakov said, adding that Syria would be discussed in "great detail".

Talks on Turkey's troubled neighbour are unlikely to be more than an exchange of very differing views, according to Hasan Selim Ozertem, an analyst at Ankara-based think tank USAK.

Erdogan has become Assad's most vocal critic and has lambasted the United Nations Security Council, and Russia in particular, for stalling on an international response to the civil war in Syria, which has left nearly 200 000 dead.

"It seems that topics regarding strengthening energy and trade ties are richer this time," Ozertem said.

Whilst Turkey's role in Nato is also likely to strain relations, its interest in building power plants and gas storage facilities could push trade volume to $40bn from around $32bn last year, Ozertem said.

The announcement of a revision to natural gas prices, negotiated by Turkish Energy Minister Taner Yildiz during a trip to Moscow earlier this week, may be delayed, a senior Turkish official told Reuters, but talks will continue to boost trade towards a target of $100bn by 2020.

"Russia is very keen on investing in Turkey," the official said.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.81
+1.1%
Rand - Pound
23.49
+1.3%
Rand - Euro
20.12
+1.4%
Rand - Aus dollar
12.29
+0.9%
Rand - Yen
0.12
+2.4%
Platinum
922.40
-0.3%
Palladium
960.00
-3.1%
Gold
2,337.95
+0.2%
Silver
27.26
-0.6%
Brent Crude
89.01
+1.1%
Top 40
69,358
+1.3%
All Share
75,371
+1.4%
Resource 10
62,363
+0.4%
Industrial 25
103,903
+1.3%
Financial 15
16,161
+2.3%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders