The relations between Turkey and Russia, countries that share the Black Sea and have strong historical and cultural bonds, date back in time. During several historical periods sometimes a rivalry sometimes very strong collaboration can be found. Right after the Cold War, new business opportunities and perspectives show up for both two countries.
In 1990s the economical collaboration fastly grew and the bilateral relations arrived to a new phase after 2000s. With the High Level Cooperation Council which is established in 2010, the relations formed an institutional basis.
The bilateral investments are around 10 billion $, there are more than 2000 projects operated in Russia by Turkish contractors which has a total value of 60 billion $. 16 years ago, the trade volume between two countries was 4,5 billion $ and now until this period, it has a regular increase with a total number of 25 billion $.
Russia listed in top 10 countries which Turkey exports the most. Especially textile, vegetables, fruits, metalwares, motor land vehicles are exported. Recent 5 years the %10-11 of Turkey’s total import is met by Russia. The biggest amount is for natural gas and followed by iron, steel and cereals. The most important item of the trade between two countries is energy. Turkey paid 10 billion $ to the Russian energy company Gazprom for the natural gas imported.
Turkey is the second biggest customer of Russia after Germany in natural gas. Turkey’s share in total Export of Gazprom is 18%. There is a new Project between Turkey and Russia which is called Turkish Stream. The total pipeline will be 910 km and 660 km of them will pass through Russia, and 20km of them through Turkey.
Another Project is the nuclear plant Project which will cost 20 billion $ and will be built in Mersin by a Russian company. Until 2015 the relations were tend to develop and there was a brief tension between the two countries in that period. But recently with the bilateral visits the relations are in a refreshment process. The important milestones of their relations through the years were:
– In the scope of ‘Blue Stream Project’ natural gas flow started from Russia to Turkey.
-The presidents visited each other and determined a trade volume target.
– The bilateral trade volume was 15 billion $.
– The bilateral trade reached 28 billion $.
– The bilateral trade reached 37 billion $.
– High Level Cooperation Council was established to work as a council of ministers between Turkey and Russia and the first meeting was held. In the same meeting, the nuclear plant construction agreement was signed. Until the crisis in 2015, the council meetings were held with the participation of presidents.
– The visa between two countries was abolished.
– The meetings held for G-20 and High Level Cooperation Council.
– Putin visited Turkey for the 5th High Level Cooperation Council meeting and declared the cancellation of the South Stream Project and instead they will focus on Turkish Stream Project.
– The Export from Turkey decreased %60,5 to 737 million $ comparing to the same period of the year before. The trade volume between two country was 12 billion $.
– The recent 4 months, the relations gain speed.
– First visit to Russia from Turkey President.
– Meeting betwwen two presidents in G-20.
– Putin visited Turkey for 23rd World Energy Congress.
-Inter-parliamentary Friendship Union built between Turkey and Russia.