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Tuesday May 24 2022

Turkish company plans to establish JV in country

24 July 2019 14:51 (UTC+04:00)
Turkish company plans to establish JV in country

By Mirsaid Ibrahimzade

Turkey is interested in further cooperation with Azerbaijan, especially in the non-oil sector, and the country intends to create joint enterprises with Azerbaijan.

Turkish company ABC Deterjan San ve Tic A.S. can create a joint chemical enterprise in Azerbaijan, Ministry of Economy told local media.

This issue was discussed during the meeting of Shahin Mustafayev, Minister of Economy, with the company's Chairman of the Board Mustafa Basher.

Basher gave information about the projects implemented by the company and expressed interest of ABC Deterjan San ve Tic A.S. to invest in Azerbaijan. The parties discussed cooperation in the production of chemical products and the creation of a joint venture in this area.

The Turkish company was established in 1972 for the production of chemical raw materials for the domestic and international markets and it is the largest producer of cleaning products in Turkey and the region.

Turkey is a partner in many strategic projects of Azerbaijan. The countries effectively use their economic and energy capabilities as well as the geopolitical position to expand bilateral and regional cooperation.

Azerbaijan actively invests in construction of new petrochemical complexes, petrol station networks and other projects in Turkey.

As for statistics, the trade turnover between Turkey and Azerbaijan amounted to $1.5 billion in January-June 2019. According to the Turkish Ministry of Trade, the trade increased by $674.5 million compared to the same period in 2018.

In the first half of this year, Turkey’s exports to Azerbaijan amounted to $1.2 billion, and imports from Azerbaijan – to $381.4 million.

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Mirsaid Ibrahimzade is AzerNews’ staff journalist, follow him on Twitter: @MirsaidIbrahim1

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