Russian companies set sight on Turkish market, aiming for $100B trade volume

Russian non-financial development institution Roscongress Foundation Chairman, Alexander Stuglev, announced that Russian companies are targeting a $100 billion bilateral trade volume with Türkiye, expecting to reach this goal within the next 5-7 years.

A meeting titled “Promoting Russia‘s Business and Investment Potential in Türkiye” was held ahead of the 28th St. Petersburg International Economic Forum (SPIEF), scheduled for June 18-21, 2025.

Investment opportunities for tourism infrastructure in Russia

The chairman of the board and executive committee of SPIEF’s organizing body, Roscongress Foundation, Stuglev responded to questions from Anadolu Agency during the meeting and shared insights about Türkiye-Russia trade relations.

Stuglev drew attention to potential sectors for Turkish entrepreneurs in Russia, highlighting tourism as a key area. “As you know, many tourists from Russia visit Türkiye. On the other hand, tourism is also developing rapidly within Russia. Turkish companies could invest in building the necessary infrastructure in Russia and profit from these investments,” he added.

Stuglev also emphasized high-potential sectors in Russia, such as pharmaceuticals, textiles, fast-moving consumer goods, and energy. He cited an example of environmental collaboration, mentioning an agreement between a Turkish company and a Russian firm for the disposal of textile waste, showcasing successful bilateral cooperation.