Russia and Turkey negotiate establishing joint Investment Fund

Russia and Turkey negotiate establishing joint Investment Fund
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Negotiations on establishing a joint Investment Fund, which, in particular, will promote activity of Turkish builders in Russia, are underway.

Turkish builders have carried out construction works for a total amount of approximately $70 bln, the Economy Minister of Turkey, Nihat Zeybekci, said on Wednesday in his speech at the Russia-Turkey media forum held in Antalia and organized by Clobal Connection.

The Minister specified that Turkish building contractors had erected real estate for a total amount of $65 bln, having completed about 2,000 contracts in several regions of Russia.

“We wish that Turkish builders will work in Russia from now on. This will be aided by the joint Investment Fund, creation of which is being negotiated now,” added Nihat Zeybekci.

The Minister specified that the decision on the project financing will be taken jointly by the parties within the framework of the Fund. These might be the projects in Turkey, Russia or in any other country, implemented by Russian or Turkish company, as well as by a joint Russia-Turkey enterprise.