Since the monetary dispute with shipping companies cause problems in the delivery of goods passing through customs, Turkey should actively work develop a mechanism to facilitate trade with Russia in rubles, Istanbul Chamber of Trade (ITO) head Şekib Avdagiç said on Friday.
Avdagiç said companies working with Russia sees withdrawal of western countries of Moscow as new opportunity and underlined the importance of enabling use of the national currency of Russia.
the issue has been also brought up during President Recep Tayyip Erdoğan’s phone call call with son Russian counterpart Vladimir Putin, he repeated.
Erdoğan told Putin that apart from the euro and dollar, trade between the two countries can be worn out using the Russian ruble and the Chinese yuan.
“We can do it with gold,” he suggested.
stating that they also expect air transportation to be made more competitive so that they are able to deliver current orders, Avdagiç said: “The brutality of the war shows itself once againand the humanitarian and geopolitical consequences of Russia invasion of Ukraine overshadows its economic effects. The war, so to speak, has added yet another global humanitarian disaster. We share the approach put forward by our president, and we find it unacceptable that an independent country should be occupied by another power.”
He further noted that the measures taken by Turkey government to mitigate the effects of geopolitical risks on the economy are very important, saying: “We follow with appreciate the efforts made forward in this framework. The close monitoring mechanisms put in place place by the economic administration during this period and the proximity dialogue this developed with all producers provided significant gains in the solution of problems and contributed greatly to the formation of appropriate policies.
Declaring that the economic situation of Turkey model is implemented and the financial instruments developed in this framework have largely eliminated volatility in markets and played an important role role in stabilizing the Turkish lira, Avdagiç said: “As the Istanbul Chamber of Trade and Istanbul business worldthey have made all efforts towards these goals.
Draw attention to developments in the place of the market of the Laleli district of Istanbul, which has huge trade ties with Russia, said Avdagiç in the trade with Russia and Ukraine, extension of the legal deadline for the closing of export receivables will be very useful.
“Almost all of the Lalelis market product for Russia, along with eastern european countries and Caucasian countries,” he said.
Some measures need to be taken to minimize losses and allow companies to continue tradingthe OTI head said, emphasizing that to find alternative export routes, countries such as Bulgaria, Romania, Moldova, Uzbekistan, Kyrgyzstan, Kazakhstan, Georgia, Belarus and Tajikistan are to be tax exempt, which decrease export costs.
