Istanbul peace talks: Ending Russia-Ukraine war to help boost regional trade

By Mertkan Oruc and Emir Yildirim

KAZAN, Russia (AA) — Turkish Deputy Trade Minister Mahmut Gurcan has expressed optimism about the outcome of the Istanbul peace talks between Russia and Ukraine, saying the end of the war will help boost regional trade volumes.

Gurcan told Anadolu at the Russia-Islamic World: KazanForum event in the northwestern Russian Republic of Tatarstan that Moscow needs to end the war in order to expand its trade.

“Türkiye continued to maintain its relations with Russia within the confines of sanctions throughout the war, and I believe Türkiye will seize the opportunity to utilize this emerging trade area effectively in the coming period,” he said.

“The end of this war will bring significant economic and trade benefits to Türkiye and the region, and the peace talks led by Türkiye will bring a new forward momentum to the world,” he added.

Gurcan said the Russia-Islamic World event brought together the Islamic world to showcase halal products, and that the event is important for Türkiye in developing economic relations.

The deputy minister noted that the trade volume between Türkiye and Russia reached $53 billion as of the latest figures.

“We believe such events are significant to achieve the $100 billion trade volume target set by President Recep Tayyip Erdogan and President Vladimir Putin,” he said. “We’re holding talks with our Turkish firms, which are also showcasing their products at the forum, about relations with Russia and Tatarstan.”