Turkey, Tatarstan to work together in energy resources

Turkey and Tatarstan can work together on energy resources, Economy Turkish Minister Nihat Zeybekci said March 27.

"Both nations have blood ties, and so should seek to further each other's interests," Zeybekci said after a meeting with Tatar President Rustam Minnikhanov as part of his visit to the oil-rich Russian federal subject.

Zeybekci said Turkey was providing incentives to Turkish business people to invest in Tatarstan, noting that the encouragement would "increasingly continue."

"Turkey has a lack of raw materials and intermediate goods in energy resources, and Tatarstan is an important source of them," Zeybekci said.

Zeybekci also said Turkey and Russia aimed to increase their trade volume to $100 billion in a short period from $32.5 billion in last year.

Minnikhanov said Turkish firms had already implemented large investment projects in the region.

"Over 25 percent of our foreign investments come from Turkish companies," Minnikhanov said.

Zeybekci will attend the Tatarstan-Turkey Economic and Trade Cooperation Forum before he inaugurates Turkish-owned factories in the Alabuga Industrial Zone.