Antalya, April 21 (IANS/RIA Novosti): Russia and Turkey are committed to expand mutual investment and cooperation, aiming to bring bilateral trade to $100 billion, the Russian and Turkish energy ministers said Saturday.

The Turkish-Russian Joint Economic Committee (JEC) held its 12th Meeting in the southern province of Antalya with the participation of Turkish energy and natural sources minister Taner Yildiz and Russian energy minister Alexander Novak.

Yildiz said there is good potential to increase the volume of trade from the current $34 billion to $100 billion.

Around 1,500 Russian companies currently operate in Turkey while Turkish contractors are involved in projects in Russia worth a total of $50 billion, he said.

He also said Turkish-Russian cooperation could continue in third countries.

Yildiz and Novak signed a JEC protocol prioritising the diversification and expansion of bilateral trade and the creation of an investor-friendly environment in order to achieve the $100 billion target.