Sberbank has Signed the Protocols With TurkEximBank and the Investment Support and Promotion Agency of Turkey

Sberbank has Signed the Protocols With TurkEximBank and the Investment Support and Promotion Agency of Turkey PR Newswire ISTANBUL,Turkey, December 3, 2012 ISTANBUL,Turkey, December 3, 2012 /PRNewswire/ -- Sberbank has signed a Memorandum of Understanding with TurkEximbank to raise trade volumes to 1 billion US dollars between the two countries, and a Memorandum of Understanding with the Investment Support and Promotion Agency of Turkey. Under the Memorandum of Understanding both parties have agreed to strengthen relations through investment cooperation, to facilitate the identification and implementation of investment projects in Russia and Turkey and to promote the investment climate of the two countries. The Export Credit Bank of Turkey (TurkExim) and Sberbank of Russia, the largest financial institution in Russia, the CIS and Eastern Europe, today signed a $1 billion Memorandum of Understanding (MOU) to facilitate an increase in the export of Turkish goods and services to Russia and other countries in which Sberbank operates and TurkExim programs are available. TurkExim General Manager Hayrettin Kaplan and Herman Gref, Chief Executive Officer and Chairman of the Board of Sberbank, signed the Memorandum of Understanding. The signing took place during the working visit of the President of Russian Federation Vladimir Putin to Turkey.