Erman Ilicak, Chairman of Turkey's Renaissance Holding
Ankara - KUNA
Turkey and Russia signed Monday an investment agreement with a value of USD 400 million in fields of construction and health care.
The agreement was signed by Kirill Dmitriev, Russian Direct Investment Fund's Chief Operating Officer, and Erman Ilicak, Chairman of Turkey's Renaissance Holding.
"We will cooperate with the Renaissance Holding in projects like shopping malls and health care, and this cooperation will be a good example of Russian-Turkish partnership," Dmitriev told a joint news conference with Ilicak.
"This partnership is important to creating job opportunities in the two countries, which will contribute to pushing the economy of the two sides," he added.
Ilicak said Turkey has USD 1.8 billion worth of investment in Russia. "We will work on increasing them to USD 3.2 billion in five years," he added.
Ilicak said that each of Russia and Turkey would allocate USD 200 million to the agreement, signed on sidelines of Russian President Vladimir Putin's visit to the country.