ISTANBUL - ``We have decided to discuss ways to provide permanent flow of natural gas from Russia to Turkey and ways to cut natural gas prices,`` said Turkish State Minister Kursad Tuzmen after Turkey-Russia Joint Economic Commission (JEC) meeting in Istanbul on Tuesday.
A protocol was signed at the end of the meeting by Turkish-Russian JEC co-chairmen. The protocol was also signed by Tuzmen and Industry & Energy Minister Viktor Khristenko of Russia.
Tuzmen told reporters, ``trade volume between Russia and Turkey rose by 50 percent in 2005 when compared with 2004, and it exceeded 15 billion USD. This figure will reach 18 billion USD by the end of this year. We will achieve our bilateral trade volume target of 25 billion USD in 2008.``
``Turkish contractors undertook 2.5 billion USD of projects in Russia only in 2005. The amount of Turkish investments in Russia is more than 2 billion USD,`` he added.
``At today`s JEC meeting, we have decided to rapidly start talks on a new and comprehensive trade and partnership agreement (between Turkey and Russia) and prepare infrastructure which will provide free movement of properties and services in bilateral trade. We have also decided to sign a joint action plan between 2006 and 2008,`` he said.
Tuzmen said, ``we have made important decisions regarding energy sector which is very important for economic cooperation between Turkey and Russia. We have decided to discuss ways to provide permanent flow of natural gas from Russia to Turkey and ways to cut natural gas prices. We have also decided to work together in exploration and extraction of oil and natural gas in our two countries as well as in third countries.``