By Mirsaid Ibrahimzade
Azerbaijan-Turkey relations, which reached a strategic level many years ago, contribute to stable and promising economic growth, which is reflected in high figures of the overall trade turnover between the countries.
Turnover between Turkey and Azerbaijan amounted to $1.09 billion in January-July 2019, Turkey’s Ministry of Trade told Trend.
Within this period, Turkey’s exports to Azerbaijan reached $841.72 million, while imports from Azerbaijan equaled $245.08 million.
As for July only, the statistics showed the turnover of $179.14 million, where Turkish exports to Azerbaijan amounted to $142.65 million, and imports from Azerbaijan - to $36.48 million.
In July, Turkey's overall exports recorded a growth of 7.9 percent compared to last year and amounted to $15.16 billion. Turkey's foreign trade turnover reached $33.51 billion in that month.
Joint energy and transport projects are the main driving force in the economic relations between Azerbaijan and Turkey. However, Turkey is also interested in further cooperation with Azerbaijan, especially in the non-oil sector, and the country creates joint enterprises with Azerbaijan.
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.
The two countries have been involved in the implementation of significant world scale projects such as Baku-Tbilisi-Ceyhan oil pipeline, the Baku-Tbilisi-Erzurum gas pipeline, TANAP, the Southern Gas Corridor and the Baku-Tbilisi-Kars railway.
As for non-economic relations, Azerbaijan removed the visa requirement for Turkish citizens. The cancellation of the visa regime is expected to be another significant contribution to the development of the continuously growing friendship and fraternal relations between Azerbaijan and Turkey.
Mirsaid Ibrahimzade is AzerNews’ staff journalist, follow him on Twitter: @MirsaidIbrahim1
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