Business Union Seeks Dialogue As Russia Extends Retaliation

The Turkish Union of Chambers and Commodity Exchanges (TOBB) has established a network for Turkish businessmen in Russia amid growing diplomatic tension between Ankara and Moscow that threatens to weaken economic ties.

The TOBB announced that it has set up a “Russia Communication and Coordination Table” in which Turkish businessmen could convey their difficulties in Russia after the latter threatened to suspend various projects. The table will enable businessmen to contact the TOBB to voice concerns regarding problems with business relationships in Russia, with the union relaying the information quickly to the relevant public institutions in order to find a solution.

The TOBB has expressed its concern regarding the two countries' economic relations and has made it clear that it does not want ties to be weakened in such areas as trade, logistics, energy, banking, tourism and construction.

Russian Construction and Public Services Minister Mihail Men told the Russian media on Friday that Turkish construction projects could be stalled as a result of the downed jet. “Support for Turkish projects in the Russian construction sector will come under review. Within a short period of time, we will evaluate joint construction projects between Russia and Turkey,” he said, adding that Turkish companies could be booted out of certain projects.

Moscow Municipal Construction Department officials have said that Turkish companies being removed from Moscow-based construction projects would not significantly affect the sector. (Cihan/Today's Zaman)