Turkey Proposes Free Trade Zone with Eurasian Union

The presidents of Kazakhstan, Russia, Belarus, Armenia and Kyrgyzstan meet at a Eurasian Union summit in Astana. May 29, 2014.


SYDNEY (RIA Novosti)—Turkey has expressed an interest in establishing a free trade zone with the Customs Union of Russia, Belarus and Kazakhstan, Russian Economic Development Minister Alexei Ulyukayev said after talks with Turkish Economy Minister Nihat Zeybekci.

The Turkish minister put forward an initiative for closer cooperation with the Eurasian Economic Union, Ulyukayev said.

“We have discussed the possible forms of cooperation, including the formation of a free trade zone between the Customs Union and Turkey. We have agreed to create a working group and to begin a more detailed discussion of these possibilities and prospects in September,” Ulyukayev said on the sidelines of the meeting of G20 trade ministers in Sydney, Australia.

Turkey currently has an agreement on free trade with the European Union.

Earlier the same day, Ulyukayev said that Turkey had suggested using national currencies in trade with Russia.

The trade volume between Russia and Turkey amounted to $32.7 billion in 2013. Russia is Turkey’s second-largest trade partner after the European Union. Turkey ranks eighth among Russia’s foreign trade partners.

Russian authorities considered renewing the talks on switching to national currencies in order to decrease the dependence on the US dollar amid tense relations with the West due to the Ukrainian crisis.

The Turkish side has also expressed interest in building a transport and logistics hub in Russia with links to sea ports, airports, railways and highways, Zeybekci said.

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12 Comments

  1. Hye said:

    Didn’t kemal ataturk do something like this back in 1920’s(promising that Turkey will become bolshevik and milked the Russia). Russian tsars don’t learn whether it’s Putin or Lenin.

  2. Hratch said:

    This is seemingly becoming more of a Pan-Turkic economical bloc. With Turkey, Kazakhstan and possibly Azerbaijan joining in, Armenia will never have a chance. Mother Russia will sellout Armenia in an eyeblink. With Turkey as an additional partner, Mother Russia can’t but side with the Turks. They will give whatever they demand, including Karabagh, in order to trade with them in defiance of the sanctions imposed on the for the Ukraine crisis.

    Our stooge leaders placed all their eggs in one basket and that basket has now dropped. We have no where to run and no one to turn too!

  3. Hratch said:

    This is seemingly becoming more of a Pan-Turkic economical bloc. With Turkey, Kazakhstan and possibly Azerbaijan joining in, Armenia will never have a chance. Mother Russia will sellout Armenia in an eyeblink. With Turkey as an additional partner, Mother Russia can’t help but side with the Turks. They will give whatever they demand, including Karabagh, in order to trade with them in defiance of the sanctions imposed on them after the Ukraine crisis.

    Our stooge leaders placed all their eggs in one basket and that basket has now dropped. We have no where to run and no one to turn too!

  4. Norin said:

    This is a direct counter move reaction to Armenia moving to join the EAU/CU. Turkey has econimic weight, and if such free trade zones are established with the CU/EAU, I would not be surprised if later we see Turkey meddling via Azeri suggestions of “if Armenia does this, we will withdraw from the free trade zone”. Turkey will try to create the free trade zone and then establish some form of product dependency in the EUA, afterwards, it will use its economic weight of basic commodities products to muscle into the internal affairs of the EAU to counter Armenian initiatives.

    This situation should be monitored very closely. This development was heralded by that swine faced senile imbecile NurSulta Nazarbayev when he bitched in Astana as well as “invited” Turkey to join the EAU. They need to stop feeding that senile fool his walnuts and raisins so that he can croak already.

    He keeps touting Kazakh modernity and democracy but has been sitting at the helm of his state for 2 decades and even enacted a law to give him selective electoral perpetual existence in office.

  5. Dr.Hermon Mihranian said:

    This is one of the reasons I am pushing Yerevan to join Eurasian Economic Union. It will have a positive impact on Yerevan

    • Armenian said:

      For what? To give hostile states like Turkey, Azerbaijan and to some extent, Kazakstan a direct say in Armenia’s economy and well-being?

  6. Armineh said:

    This is the Pan Turkish ideology which is extended till now. With friends like Russia or other European countries and …, whatever we’ve seen in past ( like Armenian Genocide) will be assisted and ignored. But there is something more powerful than their dirty policies that still is keeping our nation alive. I believe in this.

  7. Pingback: Turkey-Eurasian Union Partnership ‘Will Hurt Armenia’ - Gagrule.net

  8. Pingback: August, 2014 | Kıvcı Raporu

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