Update: Ankara, Moscow share mutual interests over Russia's sanctions: Turkish PM

Ankara and Moscow share mutual interests in their bilateral relations, including Russia's economic interests from Turkey, the Turkish Prime Minister Ahmet Davutoglu said on Sunday over Russia's decision to impose economic sanctions on Turkey.

"Relations between Turkey and Russia are in a structure based on mutual interests. Turkey is not having one sided interests from Russia. Russia also has economic interests from Turkey. On many areas, we have common interests and neighboring relations," Davutoglu told a press conference in Ankara Esenboga Airport before leaving for a EU-Turkey summit.

The Turkish leader said that the country has set up a coordination committee headed by minister of economy to handle outcomes of crisis with Russia.

Russia is Turkey's seventh largest export and import partner. In 2014, Turkish exports to Russia stood at 5.9 billion U.S. dollars, while its imports from Russia -- mainly natural gas and oil -- stood at 25 billion U.S. dollars.

Turkey exported 20 percent of its foodstuff industry to Russia, in addition to 15 percent of its textile exports.

Turkey's priority is to "keep dialogue channels open" with Russia, and to avoid similar tensions due to military operations in Syria, he said.

Davutoglu reiterated that Turkey used its right to defend its airspace which is "in line with international law," but not intentionally targeted Russian warplane.

Earlier, Ankara said it did not know that it was a Russian warplane before it was shot down by Turkish air force, and stressed that it warned the war jet of violating Turkey's airspace.

Also on Sunday, the Turkish prime minister said the body of the Russian pilot was brought to Turkey, and would be handed over to Russia.

He also said that with different coalitions operating in Syria with differing objectives, similar incidents, like the downing of the Russian jet, could happen unless there was information sharing and coordination.

In a statement in Balikesir province in western Turkey on Saturday, Turkish President Recep Tayyip Erdogan said "We feel really saddened about this incident. We would not like such a thing to happen, we would not want it but unfortunately it did. I wish such a thing will not happen again."

"What we tell Russia is 'Let's talk about this issue within its boundaries and let's settle it. Let's not make others happy by hurting our relationship," he said, adding that he believed it would be an opportunity to repair their relations at the climate change summit in Paris on Monday.

Erdogan had previously proposed to have a meeting on the sidelines of the summit with his Russian counterpart Vladimir Putin, but was rejected by the Kremlin.

Turkey-Russia relations have plummeted after Turkey shot down Russia's war jet earlier last week, claiming that the Russian Su-24 warplane had violated its air space, while Russia insists that its warplane was flying in Syria's airspace when it was downed.

On Saturday, Mr. Putin signed a decree imposing economic sanctions against Turkey. According to the decree, which became effective immediately on the date of publication, Turkish companies of transportation shall be restricted in their operations in Russian territories, with Turkish ships and boats being banned from staying at or navigating across Russian ports, while import of certain goods from Turkey will be halted.

Russia also officially suspended its visa-free travel regime with Turkey, except Turkish diplomats and their dependents and those with temporary permits of residence.

Meanwhile, Moscow has also intensified its air strikes against targets in several rebel-held areas in Syria near the Turkish borders. Endit