In the section Review, Discussion, Criticism
Title of the article New Formats of Interaction of Investment Cooperation between Russia and Turkey in Modern Economic Conditions
Pages 168-193
Author Husan Sunatullaevich Umarov
Candidate of Science (Economics)
Moscow State Institute of International Relations MFA of Russia
76 Vernadsky Av., case B, Moscow, 119454, Russian Federation
This email address is being protected from spambots. You need JavaScript enabled to view it.
ORCID: 0000-0001-6370-3000
Abstract The deterioration of Russia’s trade and economic relations with international partners due to the aggravation of the geopolitical situation in Ukraine increases the importance of diversification of key sectors of the Russian economy. Russia’s search for new strategic partners increases the pace of cooperation with the Republic of Turkey. The subject of the study is the study of the advantages of the Russian-Turkish strategic partnership, the basis of which is mutual interest in building up economic and geopolitical potential. The key objectives of the study will be to study the current investment climate, the stages of implementation of investment cooperation between Russia and Turkey in various sectors of the economy, analysis of the dynamics of foreign direct investment, mutual investment, trade turnover, exports and imports between the countries. Such research methods as observation, comparative analysis, generalization, historical method will be used in the work. The author will refer to the materials of Russian and foreign experts in the field of international economics, finance, investment deposits, statistical data on export, import, mutual turnover, foreign direct investment (FDI) between Russia and Turkey, obtained from the reporting documents of the Turkish Statistical Institute (TurkStat), the World Bank (The World Bank), the United Nations (UN), the Turkish Construction Union (Turkish Construction Union). The main result of the study will be the structuring of factors affecting the dynamics of bilateral investment cooperation. The results of the study can be useful to representatives of business organizations, business owners and managers, specialists in the field of economics and finance. Formulating the main conclusions of the study, the author notes the priority of mutually beneficial Russian-Turkish partnership on key economic issues
Code 338+339
JEL F21, F51, F63
DOI https://dx.doi.org/10.14530/se.2022.3.168-193
Keywords investment cooperation ♦ strategic partnership ♦ investment projects ♦ mutual investment ♦ foreign direct investment ♦ anti-Russian sanctions ♦ Russia ♦ Turkey
Download SE.2022.3.168-193.Umarov.pdf
For citation Umarov H.S. New Formats of Interaction of Investment Cooperation between Russia and Turkey in Modern Economic Conditions. Prostranstvennaya Ekonomika = Spatial Economics, 2022, vol. 18, no. 3, pp. 168–193. https://dx.doi.org/10.14530/se.2022.3.168-193 (In Russian)
References 1. Aghayev E., Aktas H. Prospects of Cooperation between Russia and Turkey. European Researcher, 2017, vol. 2, issue 8, pp. 98–103. https://doi.org/10.13187/er.2017.2.98
2. Aktas H., Elnur Hasan M. Analysis of Russian Foreign Policy from Aspect of Russian Turkish Relations. Open Journal of Political Science, 2019, vol. 9, issue 2, pp. 239–262. https://doi.org/10.4236/ojps.2019.92022
3. Ayupov A., Litvinov D., Kim I. Overview of Turkish Investments in Russia. State Develop-ment Corporation (‘VEB.RF’), Russian Union of Industrialists and Entrepreneurs (RSPP), 2021, 67 p. Available at: https://nsplaw.com/media/uploads/NSP_study__Turkish_Investments.pdf (accessed June 2022). (In Russian).
4. Babayan H. Russia and Turkey between Cooperation and Rivalry. Nauchny Artsakh = Scientific Artsakh, 2020, no. 3 (6), pp. 96–104. (In Russian).
5. Bdoyan D.G. The Transformation Periods in the Russian-Turkish Relations (1991–2016). Vestnik MGIMO Universiteta = MGIMO Review of International Relations, 2017, no. 4 (55), pp. 165–182. https://doi.org/10.24833/2071-8160-2017-4-55-165-182 (In Russian).
6. Bechev D. Rival Power: Russia in Southeast Europe. Yale University Press, 2017, 320 p.
7. Budarina N.A., Ibragimov I.R. Russia and Turkey: New Trends and Prospects at the Present Stage. Vestnik RUDN. Seriya: Ekonomika = RUDN Journal of Economics, 2020, vol. 28, no. 3, pp. 440–449. https://doi.org/10.22363/2313-2329-2020-28-3-440-449 (In Russian).
8. Druzhinin A.G. Russian-Turkish Cooperation in the Post-Soviet Eurasia Space: Opportunities, Challenges and Prospects for the South of Russia. Nauchnaya Mysl Kavkaza = Scientific Thought of Caucasus, 2013, no. 1 (73), pp. 58–62. (In Russian).
9. Druzhinin A.G. Spatial Socio-Economic Development of Modern Russia through the Prism of L.N. Gumilev’s Scientific Ideas. Vestnik Sankt-Peterburgskogo Universiteta. Istoriya = Vestnik of Saint Petersburg University. History, 2012, Special Issue: On the 100th Anniversary of the Birth of L.N. Gumilev, pp. 51–57. (In Russian).
10. Druzhinin A.G. The Black Sea Region in Modern Russian-Turkish Cooperation: Geo-Strategic Aspect. International Journal of Economics and Financial Issues, 2015, vol. 5, pp. 81–84.
11. Ersen E. Evaluating the Fighter Jet Crisis in Turkish-Russian Relations. Insight Turkey, 2017, vol. 4, issue 19, pp. 85–103. https://doi.org/10.25253/99.2017194.06
12. Evren B. From Geopolitical Competition to Strategic Partnership: Turkey and Russia after the Cold War. Uluslararasi Iliskiler Dergisi, 2019, vol. 16, issue 63, pp. 69–86. https://doi.org/10.33458/uidergisi.621309
13. Gumbatov К.А. Features of Cooperation between Russia and Turkey in Energy Sector. Moskovskiy Ekonomicheskiy Zhurnal = Moscow Economic Journal, 2021a, no. 4, pp. 471–478. https://doi.org/10.24412/2413-046Х-2021-10239 (In Russian).
14. Gumbatov К.А. State of Investment Cooperation between Russia and Turkey at the Present Stage. Innovatsii i Investitsii [Innovations and Investments], 2021b, no. 5, pp. 24–26. (In Russian).
15. Hamilton R.E., Mikulska A. Cooperation, Competition and Compartmentalization: Russian-Turkish Relations and Their Implications for the West. Foreign Policy Research Institute, 2021, April, 68 p. Available at: https://www.fpri.org/wp-content/uploads/2021/04/russian-turkish-relations-bssp.pdf (accessed June 2022).
16. Hirst S.J, Isci O. Smokestacks and Pipelines: Russian-Turkish Relations and the Persistence of Economic Development / Diplomatic History, 2020, vol. 44, issue 5, pp. 834–859. https://doi.org/10.1093/dh/dhaa046
17. Imanov G.M. Russia and Turkey in the XXI Century: From a Multifaceted Strategic Partnership to the Imperative of Eurasian Integration. Politika, Gosudarstvo i Pravo = Politics, State and Law, 2012, no. 3. Available at: https://politika.snauka.ru/2012/03/182 (accessed June 2022). (In Russian).
18. Kakisim C. An Analysis of Turkey and Russia Energy Relations in the Scope of Interdependence. International Journal of Political Science and Urban Studies, 2019, pp. 67–89. https://doi.org/10.14782/ipsus.539186
19. Kostem S. The Political Economy of Turkish-Russian Relations: Dynamics of Asymmetric Interdependence. Perceptions, 2018, vol. 23, no. 2, pp. 10–32.
20. Kvashnin Yu.D. Prospects of Russian-Turkish Investment Cooperation. Mezdunarodnaya Ekonomika = The World Economics, 2015, no. 1, pp. 38–44. (In Russian).
21. Masumova N. Russia and Turkey: Resetting Economic. Perceptions, 2018, no. 2 (23), pp. 33–50.
22. Masumova N.R. Тurkey’s Economic Imbalances. Mirovoe i Natsionalnoe Khozyaystvo = World and National Economy, 2015, no. 1 (32), pp. 1–4. (In Russian).
23. Masumova N.R., Mammadova N.R. Some Aspects of Investment Climate in Turkey. Mirovoe i Natsionalnoe Khozyaystvo = World and National Economy, 2015, no. 3 (34), pp. 1–4. (In Russian).
24. Newnham R. Oil, Carrots, and Sticks: Russia’s Energy Resources As a Foreign Policy Tool. Journal of Eurasian Studies, 2011, vol. 2, issue 2, pp. 134–143. https://doi.org/10.1016/j.euras.2011.03.004
25. Onis Z., Yilmaz S. Turkey and Russia in a Shifting Global Order: Cooperation, Conflict and Asymmetric Interdependence in a Turbulent Region? Third World Quarterly, 2015, vol. 37, issue 1, pp. 71–95. https://doi.org/10.1080/01436597.2015.1086638
26. Petrov O.V. Russian-Turkish Economic Relations at the Present Stage of Development. Torgovaya Politika = Trade Policy Journal, 2018, no. 3(15), pp. 32–54. (In Russian).
27. Serikova Z.E. Legal and Political Foundations of Russian-Turkish Cooperation. Molodoy Ucheniy = Young scientist, 2018, no. 50, pp. 345–347 (in Russian).
28. Sherstyukov S.A., Bod?shteanu N.V. Russian-Turkish Relations after 2015: New Trends, Old Dilemmas. Mirovaya Ekonomika i Mezhdunarodnye Otnosheniya = World Eсonomy and International Relations, 2021, vol. 65, no. 11, pp. 88–96. https://doi.org/10.20542/0131-2227-2021-65-11-88-96 (In Russian).
29. Sukri M.A. Causes of the Failed of the Military Coup in Turkey in 2016. Ilmu Politik, 2017, vol. 3, issue 2, pp. 239–262. https://doi.org/10.15575/politicon.v3i2.11687
30. Sultygova D.M., Rudneva A.O. Russian-Turkish Cooperation in the Field of Scientific and Technical Innovation. Vestnik Evraziyskoy Nauki = The Eurasian Scientific Journal, 2018, vol. 10, no. 5, pp. 1–9. (In Russian).
31. Volkan S.E., Durmaz D. Energy in Turkey and Russia’s Roller-Coaster Relationship. Insight Turkey, 2017, vol. 1, issue 19, pp. 135–139.
Submitted 10.06.2022
Approved after reviewing 15.08.2022
Accepted for publication 28.08.2022
Available online 30.09.2022

ISSN (Print) 1815-9834
ISSN (Online) 2587-5957

Minakir Pavel Aleksandrovich,

Journal’s Founder

 

Artem Isaev
Editor-in-Chief
Tel.: +7 (4212) 725-225
Fax: +7 (4212) 225-916
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Samokhina Lyudmila
Executive Editor
Tel.: +7 (4212) 725-230
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Editors
Tel.: +7 (4212) 725-230
e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

 
To Editorial Staff of “Spatial Economics”
Economic Research Institute FEB RAS
153 Tikhookeanskaya St., Khabarovsk, RUSSIA, 680042

 

 

Creative Commons License
Unless otherwise noted, content on this site is licensed under a Creative Commons Attribution 4.0 International License