听- New page in Russia-Turkey economic relations
A new page on Turkish-Russian economic relations was opened last week. After almost a year of negotiations, Russian President Vladimir Putin signed the decree that cancels the sanctions against Turkish citizens and companies working in Russia.
According to the Kremlin鈥檚 announcement last week, the decree lifts restrictions on Turkish citizens鈥� employment in Russia and also the ban on Turkish companies who were not allowed to participate in particular sectors in Russia.
An announcement was also made reporting that the Russian Ministry of Foreign Affairs was instructed to start negotiating the revoking of the visa agreement with Turkey, which will expand the list of Turkish citizens now permitted to travel to Russia without a visa.
Two days after the announcement, Russian Prime Minister Dmitry Medvedev signed another important decree, which lifted the import ban on all Turkish products, except tomatoes
These two decrees mark the near completion of the normalization process between Russia and Turkey. It also signals more of a focus on taking their relations forward by raising mutual trade volumes.
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St. Petersburg International Economic Forum 2017
Leading figures of the Russian economy and politics, as well as some of the largest global corporate companies, were present at the St Petersburg International Economic Forum 2017 (SPIEF) last week.
The forum reflects the rising importance of the Russian economy, which has managed to get out of recession in the last quarter of 2016.
SPIEF, which opened on June 1, 2017, with the slogan Achieving a New Balance in the Global Economic Arena, covered many important issues both for Russian and global economic trends.
The key themes of this year鈥檚 forum were: Made in Russia: Creating a National Brand, Injecting Dynamism in the Russian Far East Economy, Destination Russia 鈥� Shifting Trends Towards Domestic and Incoming Tourism, Globalization Revisited: Is Every Country on Its Own Now?, and The Changing Economics of Transportation and Logistics.
Putin, Prime Minister of India Narendra Modi, Chancellor of Austria Christian Kern and UN Secretary General Antonio Guterres were among the very long of list of guests that attended the forum. However, despite the improving economic ties between Russia and Turkey, the attendance of players from the Turkish business world remained at very low levels.
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