Baku to host first Azerbaijan-Turkey energy forum
By Ayya Lmahamad
Baku will host the first Azerbaijan-Turkey Energy Forum on December 21-22, the Energy Ministry has reported.
The forum will be co-chaired by Azerbaijan's Energy Minister Parviz Shahbazov and Turkey's Energy and Natural Resources Minister Fatih Donmez.
On December 21, as part of the Energy Forum, it is planned to hold meetings of working groups consisting of experts from both countries in the fields of hydrocarbons and petrochemicals, electricity, renewable energy and regulation. In addition, a visit of the Turkish delegation to the Sangachal Terminal is planned for this day.
On December 22, the 1st Azerbaijan-Turkey Energy Forum will be held. It is planned to sign documents between Azerbaijan and Turkey within the forum.
The 1st Azerbaijan-Turkey Energy Forum was established in order to ensure more rapid and effective strategic energy cooperation within the Joint Intergovernmental Commission on Economic Cooperation between Azerbaijan and Turkey.
Azerbaijan and Turkey cooperate in various fields of economy and have jointly completed giant energy and infrastructure projects such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Kars, and TANAP.
On June 15, Azerbaijan and Turkey signed the Shusha Declaration on Allied Relations, which focuses on defence cooperation, promoting regional stability and prosperity, and establishing new transportation routes.
In the first ten months of 2021, the trade turnover between Azerbaijan and Turkey amounted to $3.4 billion. The trade turnover between the two countries amounted to $4.1 billion in 2020.
The two countries set up a goal to bring the mutual trade turnover to $15 billion in 2023. It should be noted that so far, Turkey is Azerbaijan’s second-largest investor followed by the UK.
Additionally, Turkey was one of the first countries that expressed its interest and readiness to participate in the restoration of Azerbaijan’s liberated territories.
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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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