Akkuyu NPP construction project was discussed at the meeting of the Russia - Turkey High Level Cooperation Council

The event was held in a businesslike, constructive atmosphere. The agenda of the meeting was heavy, since the Council is the governing body, working over a strategy and main areas of development of relations between Russia and Turkey. It coordinates the implementation of important projects within political, trade and economic, cultural and humanitarian cooperation. The Council meetings are attended by members of the governments of the Russian Federation and the Republic of Turkey. In addition, Russia’s President Vladimir Putin held a comprehensive personal meeting with the Turkish Prime Minister, during which they discussed the state of bilateral relations and prospects for cooperation.

"Turkey is among the main foreign economic partners of Russia, holding the leading position in Russia's foreign trade turnover. In recent years, bilateral trade turnover between our two countries has been steadily growing, for example, in 2012, it reached more than 34 billion dollars. Investment cooperation has been expanding as well. Accumulated Russian investments in the Turkish economy make up more than 1.57 billion dollars", said Mr. Putin in his welcome address.

A particular issue for conversation was the construction of Turkey's first nuclear power plant Akkuyu in the Mersin province. It was noted that the volume of investments in the Turkish Republic would be about 20 billion dollars. “Approximately 25 percent of all works carried out during construction of the plant will be performed by Turkish companies. It means additional jobs and large-scale investments in the future of Turkey’s power economy. Along with the implementation of similar projects in Western and Eastern Europe, we consider this one as a priority for us", said Vladimir Putin.

During the meeting it was noted that Russian-Turkish relations have been rapidly developing in all areas, the countries leaders keep a regular dialogue. Cooperation between the two countries has also been conducted on key regional and international issues, including within the United Nations (UN) and the "G20" group. Areas in the steel and automotive industries are developing; ties in the financial and innovation spheres are strengthening; flow of tourists is increasing. Turkey is one of the most visited countries among Russian tourists. On their turn, Turkish citizens start thinking about traveling to Russia with interest and, therefore, the idea of holding the Year of Tourism between the two countries was proposed. At the event there were raised issues of major investment projects being implemented in the energy field. "Our cooperation in this area has reached a strategic level. The Blue Stream pipeline passing through the Black Sea operates properly. In 2012, 27 billion cubic meters of natural gas was exported. In 2014, we plan to begin construction of the South Stream gas pipeline offshore section in Turkey’s exclusive economic zone", marked the Russian President.

Recep Erdogan reminded the participants of the meeting about main areas of Turkish investments in the Russian economy. Among them he marked textile, food, chemical, wood processing and electronic industries, construction and finishing materials manufacture, automotive industry and service sector, trade, tourism and banking sector. "Economically, we have almost reached turnover of 35 billion dollars. There aren't any obstacles to ensure that developing our cooperation in various fields will allow us to bring this figure up to 100 billion dollars. Turkish organizations invest in the Russian economy, and the extent of their investments is something we can be proud of. To date, the amount of investments is 50 billion dollars. I would like to mark that we are particularly satisfied with the contribution of Turkish contracting companies in the preparations for the 2014 Winter Olympic Games in Sochi and reconstruction of the international airport in St. Petersburg, which made the city even more beautiful", said the Prime Minister of the Republic of Turkey. Recep Tayyip Erdogan said that the flow of Russian tourists has been increasing a year after year, since the beginning of 2013 Turkey was visited by about 4 million Russians. At the meeting the parties emphasized cooperation in the cultural and humanitarian sphere and discussed opening of the Russian Science and Culture Center in Ankara and the Yunus Emre Cultural Center in Moscow.

The Turkish Prime Minister drew attention to the NPP "Akkuyu" construction project. "In front of all areas of bilateral cooperation we have cooperation in the energy sector. Together with the Russian Federation we are building the first nuclear power plant, the issue is about investments in the economy in the amount of tens of billions of dollars and creation of an entire industry of innovative technologies. Ministers and heads of relevant organizations of our countries are engaged in discussing the process of the project implementation at bilateral meetings", he said.

Within the High Level Council a joint strategic planning group operates headed by the Ministers of Foreign Affairs and responsible for cooperation on the international arena, and so do the mixed Russian-Turkish intergovernmental commission on trade and economic cooperation and a public forum. Following the meeting, the parties signed a set of documents aimed at energy cooperation, exchange of information and simplification of customs procedures between the countries.