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Turkey to endorse export of Nakhchivan goods to country

9 June 2017 14:55 (UTC+04:00)
Turkey to endorse export of Nakhchivan goods to country

By Sara Israfilbayova

Turkey, which is a brotherly country and strategic ally of Azerbaijan, will support the export of Nakhchivan’s products to the country.

The agreement was reached following a meeting of Economy Minister Shahin Mustafayev with the Turkish delegation, the Azerbaijani Economy Ministry reported on June 8.

The parties discussed issues of export expansion from the Nakhchivan Autonomous Republic to Turkey, an agreement on preferential trade between Azerbaijan and Turkey and trade relations between the two countries.

The trade turnover between Azerbaijan and Turkey increased by 88 percent in the first four months of 2017, as compared to the same period of the previous year, according to Mustafayev. In particular, the exports increased four times and imports - by 18 percent.

In turn, the Turkish side expressed a will to support the expansion of exports of Nakhchivan’s products to Turkey, noted systematic work with entrepreneurs and relevant authorities in this direction and informed of the interest of Turkish entrepreneurs in investing in Nakhchivan.

Turkey was the first state to recognize Azerbaijan's independence in 1991 and has been a staunch supporter of Azerbaijan in its efforts to consolidate its independence, preserve its territorial integrity and realize its economic potential arising from the rich natural resources of the Caspian Sea.

The contractual base of bilateral Turkish-Azerbaijani trade and economic relations includes more than 40 documents aimed at expanding economic cooperation between states.

Trade turnover between Azerbaijan and Turkey amounted to almost $553 million in the first quarter of 2017, $308.7 million of which was exported to this country, according to Azerbaijan’s State Customs Committee.

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