Azernews.Az

By Amina Nazarli

An Association of Turkish businessmen and entrepreneurs is being created in Azerbaijan, said Erkan Ozoral, Turkish Ambassador to Baku.

Ozoral made the remark during a meeting with Turkish entrepreneurs in Azerbaijan, the TRT TV channel reported on December 20.

The trade turnover between Azerbaijan and Turkey amounted to $2.12 billion in January-November 2016, including $1.05 billion accounted for the export to Turkey, according to Azerbaijan’s State Customs Committee.

Turkey, which has always held leading positions among the foreign trade partners of Azerbaijan, ranks the second in Azerbaijani imports and the 14th – in the exports. Azerbaijan mainly imports various equipment, electrical appliances, household items, cars, while Turkey imports oil and oil products and gas.

The economic projects jointly implemented by Azerbaijan and Turkey, particularly in the energy sector, have made a significant contribution to the development of the strategic partnership between the two countries.

The partnership between the two countries has turned into a driving force forming policy and economy of the region. Azerbaijan's investments in the Turkish economy are expected to reach some $20 billion by 2020, while the current figure exceeds $6 billion.

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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli

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