Azernews.Az

By Leman Mammadova

Azerbaijan's strong cooperation with member countries of the Cooperation Council of Turkic Speaking States (Turkic Council) in various areas creates great opportunities for expanding mutual trade cooperation.

Azerbaijan increased trade with countries of Turkic Council by 32 percent in January-July 2019, said Shahin Mustafayev, Azerbaijani Minister of Economy, at a meeting with Baghdad Amreyev, Secretary General of the Council.

He said that Azerbaijan's trade turnover with Turkic Council countries increased by 29 percent in last year.

Mustafayev highlighted high level of Azerbaijan's relations with Turkic Council member states and development of cooperation in various fields.

“Azerbaijan actively participates in the events of Turkic-speaking states, and contributes to the development of economic relations between the member countries,” he said.

Mustafayev also briefed on Azerbaijan's export promotion mechanisms, trading houses operating in several countries, adding that the opening of the trading house of Azerbaijan in Nur-Sultan, Kazakhstan, is expected.

At present, Azerbaijani trading houses operate in Russia, Ukraine, Belarus, Latvia, Poland and China. This year, it is planned to open up to 10 trading houses.

Amreyev, in turn, stressed that Turkic Council is an important platform for expanding cooperation among member countries, noting Azerbaijan's active participation in this organization.

The parties also discussed the current state of economic cooperation and opportunities for its expansion. In addition, they spoke about the creation of a Joint Investment Fund and the Chamber of Commerce and Industry that will serve to expand economic relations, create new opportunities for the development of cooperation in the field of small and medium enterprises.

The Cooperation Council of Turkic Speaking States was established in 2009 in Nakhchivan as an international intergovernmental organization with the overarching aim of promoting comprehensive cooperation among Turkic-speaking states. Its four founding member states are Azerbaijan, Kazakhstan, Kyrgyzstan and Turkey.

The main purposes and tasks of the organization are strengthening mutual confidence and friendship among the parties, developing common positions on foreign policy issues; coordinating actions to combat international terrorism, separatism, extremism and cross-border crimes; promoting effective regional and bilateral cooperation in all areas of common interest; and creating favorable conditions for trade and investment.

The member countries of Turkic Council invested over $12 billion in the economy of Azerbaijan, while Azerbaijan invested over $14 billion in the Turkic Council states.

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Leman Mammadova is AzerNews’ staff journalist, follow her on Twitter: @leman_888

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