Seeking ways to benefit from an anticipated boom in Russia's food demand, Turkish food companies are planning to make a big impression at a global food fair in Moscow next month.
Being one of the largest food exhibitions, the 23rd International Food & Drinks Exhibition will be held in Moscow on Sept. 15. The majority of trade negotiations at the fair are expected to be conducted between Russian companies and food providers from the surrounding region.
As a response to Western sanctions, Russia had banned the import of meat, fish, dairy and greengrocer products from the US, EU, Canada and Australia.
Russia is now looking to diversify its trade partners. It has signed a memorandum of understanding (MoU) with Turkey about imported food products this week. Based on the agreement, the Turkish Ministry of Food, Agriculture and Animal Husbandry will encourage Turkish companies to participate in the fair in Moscow on Sept. 15 to boost food sales to Russia. Turkish food exporters are expected to comply with the required Russian standards for food.
The MoU with Russia will allow Turkish firms to export alternative food products to Russia which have never been sold to Russia, including poultry, fish products and livestock.
The ban on the import of food products from the EU countries and the US clears the way for Turkish exporters. Since the EU and the US accuse Russia of exacerbating the incidents in Ukraine, they have been imposing several sanctions on Russia, both economic and diplomatic.