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Airbus to Invest More than $2b in Turkey in Two Upcoming Years

Airbus to Invest More than $2b in Turkey in Two Upcoming Years

Sunday, 28 January, 2018 - 11:45
The logo of Airbus is seen on a Beluga transport plane belonging to Airbus in Colomiers near Toulouse, France, September 26, 2017. REUTERS/Regis Duvignau/File Photo

European giant Airbus signed a memorandum of understanding with the Turkish Undersecreteriat for Defense Industries (SSM) to further expand industrial cooperation in Turkey. Airbus will purchase components worth over $2 billion from Turkish suppliers during the two coming years. According to the agreement, it aims to carry out purchases worth more than $5 billion between 2020 and 2030.

With the agreement, which was signed by SSM head İsmail Demir and Airbus board member Thierry Baril in Istanbul, the two sides agreed to expand industrial partnership in Turkey and to increase cooperation.

“In the past we successfully worked with Airbus in a number of programs,” Demir said, expressing his hope to expand partnership and cooperation in the coming period. In his turn, Baril described the industrial cooperation between Turkey and the company as one of the most successful examples.

On another level, Turkish authorities decided to increase the number of companies exporting tomato to Russia.

Russian Deputy Prime Minister Arkady Dvorkovich said that his country is willing to import 50,000 tons of Turkish tomato but raised a condition that Turkey takes constructive steps towards Russian agricultural products. He added that his country would import from four Turkish companies, and that this started in December.

On Oct.9, Turkey imposed new restrictions on Russian agricultural products due to the continuity of embargo on importing tomato.

Dvorkovich affirmed that there is no disputes between Russia and Turkey in the agricultural products trade, and that positive relations dominate between the two countries.

Starting the first of January 2016, Russia forbid importing some Turkish agricultural products as a response to shooting down a Russian combat plane by the Turkish air-force.

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