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Monday December 5 2022

Azerbaijan, Turkiye discuss boosting trade, investment cooperation

8 September 2022 16:39 (UTC+04:00)
Azerbaijan, Turkiye discuss boosting trade, investment cooperation

By Ayya Lmahamad

Azerbaijan and Turkiye have discussed issues on expanding trade and investment cooperation, Azernews reports.

The discussion took place during a meeting between Azerbaijan’s Economy Minister Mikayil Jabbarov with Turkiye’s Ambassador Cahit Bagci.

“During the meeting with Turkish Ambassador Cahit Bagci (@cahitbagci), we highlighted the exemplary nature of our relations, which are based on unity and strong friendship. We emphasized the contribution of the Joint Intergovernmental Commission on Economic Cooperation to our partnership, discussed the expansion of the investment cooperation with Turkish companies, as well as #investments in infrastructure projects," Mikayil Jabbarov wrote on his official Twitter page.

During the meeting, the parties also discussed strengthening partnerships in various economic sectors, as well as increasing investment in Azerbaijan’s infrastructure.

Emphasizing that Azerbaijani-Turkish relations based on mutual respect, friendship, and brotherhood are developing upward in all sectors, they briefed on prospects for further strengthening of bilateral economic relations.

Azerbaijan and Turkiye collaborate in a variety of economic sectors and have completed major energy and infrastructure projects, such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Kars, and TANAP.

In 2021, Azerbaijan and Turkiye signed the Shusha Declaration on Allied Relations, which focuses on defense cooperation, promoting regional stability and prosperity, and establishing new transport routes.

The two countries set up a goal to bring the mutual trade turnover to $15 billion in 2023. As of 2021, the trade turnover between the two countries amounted to $4.6 billion. So far, Turkiye is Azerbaijan’s second-largest investor followed by the UK.

Additionally, Turkiye 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

Follow us on Twitter @AzerNewsAz

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