Business news from Ukraine

Turkey counts on the extension of the Grain Initiative

12 May , 2023  

Ankara wants the Black Sea Grain Initiative to continue functioning, Turkish Defense Minister Hulusi Akar said Thursday.

“Our wish is that the grain agreement be extended,” Anadolu Agency quoted the minister as saying.

For its part, the country’s Defense Ministry tweeted that the talks on extending the “grain initiative” were positive and constructive.

In turn, the Ministry of Infrastructure of Ukraine said at the end of the negotiations that the “grain initiative” should be extended for a longer period and expanded.

“This will give predictability and confidence to both the world and the Ukrainian market. But, above all, it is necessary to resume the registration of the incoming fleet and inspections without artificial delays and in accordance with the procedures of the Joint Coordination Center,” the agency said on its Facebook page.

Participants of the initiative agreed to continue negotiations at the technical level. They will be extended in the online format.

“Black Sea Grain Initiative” was concluded in Istanbul on July 22, 2022 with the participation of the UN, Ukraine, Turkey and Russia to create a corridor for the export of grain from three Ukrainian ports: “Chernomorsk”, “Odessa” and “Pivdenny”. The initiative was concluded for 120 days and was extended twice, most recently on March 18. However, while Ukraine claims that it was extended for 120 days, Russia claims that it was extended for only 60 days.

he Club of Experts previously analyzed the political and economic situation in Turkey on the eve of the presidential and parliamentary elections, see more at the link: