Russia and Turkey. Investment cooperation.

The main directions of the Turkish investments in Russia are textiles, food, chemical, wood processing, production of building materials and services: trade, tourism, banking sector. The total amount of these investments totaled at the end of 2002 about 700 million. Dollars. Most of them were direct investments, and only a very small fraction (less than 20 million. Dollars.) Were portfolio investment in the form of securities purchased in the Russian market three Turkish banks - "Yapi Kredi Moscow", "Garanti Bank Moscow" and "Finansbank Moscow". Currently, the largest of ongoing investment projects are the following: Supermarket "Ramstor" in St. Petersburg assembly plant TV brand "Vestel" Aleksandrov (76% of the capital belongs to the "Vestel '), a shoe factory brand" Rockland "in Serpukhov (40% capital owned by "Aymasan", 60% - Russian partners), expanding brewery in Moscow, detergent plant inKlin, Moscow Region ("Levent Kimya"), a business center at Paveletskaya nab. Moscow ("ENKA" extension), household electrical appliances plant in Moscow ("Conti"). In recent years, a trend of displacement activity of foreign investors in Russia from Moscow and other major cities in the regions. The main advantages of the region - significantly lower cost of production of such major components as salaries of staff of the enterprise, rents, cost of raw materials. Analysis of Turkish investments in Russia showed that large Turkish companies that have their offices in the EU, ASEAN, the US and Japan, have the ability to invest in the Russian economy with the involvement of a third party. This funding from own sources of the Turkish investor can be combined with loans from international financial institutions.It is also possible the implementation of multilateral investment projects with participation of Turkish capital. It is very promising for Russia in this area are projects involving the countries of the CIS and the BSEC. Such projects can be implemented both in Russia and in the territory of one of the countries participating in the above-mentioned associations. Given the existence of a customs union between the CIS countries, the use of the economic infrastructure of the former Soviet republics, as well as the ongoing process of integration within the Commonwealth, attracting Turkish investments in multilateral projects in the CIS countries can bring real dividends to the Russian economy. If we talk about trends in the export of Russian capital into Turkey, it should be noted that a number of large and medium-sized Russian companies are interested in Turkish market, but the lack of awareness on the investment programs of Russia both at the federal and regional levels define their generally low profile in this issue.So far, Russian companies have invested mainly in the authorized capital created by their companies and the joint venture in the services sector (trade, transport services, tourism). The exception was the joint venture "TC" (Ostash - Hazinedaroglu - Stroytransgaz), created for the execution of construction, contracting and "Turusgaz" (RAO Gazprom - "Bo-Tash" - "Gama"), to invest in increasing the capacity of the Western pipeline and participate in its operation. The total volume of Russian investments in Turkey is estimated at the end of 2002 to reach 100 million. Dollars. In 2002, a contract was signed and work began on the implementation of the first in Turkey, a joint Russian-Turkish investment project in the city of Kilis, where the company "Cornet" is planned to build the plant sparkling views of the same brand. With the City agreed on issues of land acquisition and in 2003 work began on the construction. The volume of Russian investment is estimated at 20 million. Dollars.