Turkey willing to join free trade area with Customs Union

Turkey has put on the agenda an issue of establishing a free trade area with the Customs Union, Tengrinews reports RIA Novosti.

The Russian Minister of Economic Development Alexei Ulyukayev said at the Sydney G20 meeting of trade ministers on July 19: “We have discussed possible forms of cooperation, including 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.”

Last month, Kazakhstan’s President Nursultan Nazarbayev invited Turkey to consider joining the Eurasian Economic Union of Russia, Kazakhstan and Belarus. Eurasian Economic Union is an intended continuation of the Customs Union. 

The Customs Union was established on January 1, 2010 by Russia, Kazakhstan and Belarus. Recently, Armenia and Kyrgyzstan expressed their willingness to join this single economic space.

Now, Turkey is showing its interest in opening a free trade zone with the Customs Union. Ulyukayev also mentioned that Turkey had suggested that trade with Russia be done using national currencies.

However, the overall atmosphere at the G20 meeting in Sydney was overshadowed by the recent tragedy of Malaysia Airlines passenger plane downing, which took away the lives of 298 people, including 27 Australians, The Australian reports.

By Dinara Urazova