Investment Between Russia, Turkey Reaches $20Bln - Novak
Cumulative investment between Russia and Turkey has reached approximately $20 billion, with each contributing half that amount, Alexander Novak, the Russian energy minister, said on Friday
The minister is participating in the 20th session between the two bilateral business councils in Antalya, which started on Wednesday and will finish later in the day.
"Turkish companies remain among the most active investors in Russia's development and production. As of today, the cumulative investment of Russia and Turkey is $20 billion, $10 billion from each side, and that is an impressive number.
However, we understand that this is far from what we can achieve," Novak said.
He noted that Russia and Turkey were seeking to boost bilateral trade to $100 billion and fully realize the "significant potential" for cooperation in areas like space, pharmaceutics and digital technologies.
The economic cooperation between Russia and Turkey has continued to grow, with trade having increased from $16.9 billion in 2016 to $25.4 billion just two years later.