Azerbaijan, Turkey sign cooperation accord

24 November 2020 11:54 (UTC+04:00)

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By Ayya Lmahamad

A memorandum of understanding on cooperation was signed between Azerbaijan's Small and Medium Business Development Agency and Turkey's Independent Industrialists and Businessmen Association as part of the international exhibition MUSIAD Expo 2020 in Istanbul.

It should be noted that the document was signed by the Agency's Chairman Orkhan Mammadov and MUSIAD Vice-President Mehmet Akif Ozyurt.

The memorandum of understanding provides for cooperation between the parties in spheres of trade, industry, investment, organization of joint business events, promotion of businessmen’s participation in exhibitions and other events in both countries.

The economic and investment potential of Azerbaijan's liberated territories was demonstrated at MUSIAD Expo 2020, that was held in Istanbul on November 18-21. Azerbaijan was presented at the international exhibition with a stand “Karabakh is Azerbaijan”, the design of which was made in the form of the Yukhary Govhar Agha Mosque located in Shusha city.

The first section of the stand consisted of two parts and presented information on rich natural and mineral resources and tourism potential of the liberated territories of Azerbaijan, carpets and others things reflecting the cultural heritage and crafts of Karabakh. In the second section, visitors were briefed on the products of about 20 Azerbaijani companies operating in the mining, construction, electric power, transport and communication, automobile, pharmaceutical industries, as well as the industrial potential and industrial parks of the country.

It should be noted that through the participation in the exhibition, it was aimed to inform Turkish and foreign investors about the rich underground and surface resources, minerals, tourism potential and cultural heritage of the liberated territories of Azerbaijan, and to attract foreign investors to extensive restoration and construction work to be carried out and to open businesses in these areas.

The MUSIAD Expo 2020 showcased products of companies from more than 80 countries. In addition, a number of events took place within the framework of the exhibition, including an international business forum and bilateral meetings of businessmen.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad