Azernews.Az

By Naila Huseynli

Turkey invested $11 billion in the Azerbaijani economy, said the head of the Turkish-Azerbaijani Business Council at the Council for Foreign Economic Relations of Turkey (DEIK) Selcuk Akat.

Azerbaijan's investments in the Turkish economy amounted to $13 billion, according to the reports of the head of the council.

The Statistical Institute of Turkey said that the trade turnover between the two countries in 2017 amounted to $ 1.7 billion, and for the first five months of this year - $ 759.4 million.

“Currently, there are more than 2,000 Azerbaijani entrepreneurs in the Turkish market who have opened companies in Turkey and are working at a global level. Meanwhile, about 2,500 Turkish companies are active in Azerbaijan,” added Akat.

Only in 2017, 139 companies with Azerbaijani capital established in Turkey, according to the Union of Chambers and Commodity Exchanges of Turkey. As many as 22.7 million Turkish liras were invested in these companies when they were founded. 20 million of this came from Azerbaijan. Approximately 70 percent of investments were invested in 67 companies.

During the year, Azerbaijan's investors have 14 manufacturing facilities, 11 construction companies (1.9 million lira), seven hotels and public catering facilities (710,000 lira), six real estate enterprises (410.000 lira), eight transport services and warehouse associations and so on with a total capital of about 1 million 960.000 lira.

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