ABSTRACT
This chapter examines the expanding and thriving economic relations between Turkey and Russia. It played a determining and fundamental role on advance of political relations between two countries by focusing on trade, energy, construction and contracting services and investment areas which witnessed the utmost cooperation between the two states throughout years. Turkey's trade with Russia formed nearly 7 percent of its total trade, whereas Russia's trade with Turkey made up of nearly 5 percent of its total trade in 2015. Turkey and Russia started their long-term energy relationship on September 18, 1984 with signing of natural gas agreement which would last for 25 years and required Russia to dispatch an annual 6 billion m3 natural gas to Turkey from 1987. The construction industry has become another locomotive sector between Turkey and Russia in post-Cold War period. Reciprocal investments between Turkey and Russia, despite falling far behind investments carried out by European companies, demonstrated an ascending trend all over the years.
