Min: Car makers start national currency settlements with Turkey

MOSCOW, Sep 4 (PRIME) -- Russian car producers are gradually starting settlements in the national currencies for car parts with Turkey, Industry and Trade Minister Denis Manturov told PRIME in an interview released on Tuesday.

He said that Turkish producers “are switching to payments in the national currencies now gladly … We have been discussing (settlements in the national currencies) with several colleagues in Russian producers, they were about to switch.”

Russia imports about 10–30% of car parts, some of them from Turkey, and the national currency payments could hedge risks, Manturov said.

Russia is actively negotiating payments in the local currencies with countries of the Middle East, South-East Asia, Latin America and Africa.

End