Institutional Cooperation between Russia and Turkey as a Driver of Trade and Economic Cooperation between the Countries

Abstract

In today’s reality, the interaction between government and public institutions of the Russian Federation and the Republic of Turkey plays a significant role in establishing and developing bilateral trade relations, which emphasizes the importance of institutional cooperation for deepening the economic cooperation between our countries. Particular attention is paid to the dynamics of trade and economic relations in the direction of achieving the goal of increasing the bilateral trade turnover to 100 billion US dollars. The existing and emerging institutions for foreign economic cooperation, as well as the development of effective cooperation mechanisms, such as the legalization of parallel imports and the expansion of the range of goods through a simplified customs corridor, which are relevant for both countries in the current conditions could facilitate it.