Friday September 22 2023

Azerbaijan, Turkiye discuss ways of boosting cooperation between business circles

3 October 2022 14:25 (UTC+04:00)
Azerbaijan, Turkiye discuss ways of boosting cooperation between business circles

By Ayya Lmahamad

Azerbaijan and Turkiye have discussed possibilities of expanding cooperation between the business circles of the two countries, Azerews reports.

The discussion took place during a meeting between the representatives of Azerbaijan's Small and Medium Business Development Agency (SMBDA) and a delegation of the Izmir Chamber of Commerce of Turkiye.

During the meeting, SMBDA's Board Chairman Orkhan Mammadov spoke about the support and services provided by the agency to entrepreneurs.

The parties discussed the prospects of expanding cooperation in the areas of agriculture, chemical and food industries, etc.

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, 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.


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

Follow us on Twitter @AzerNewsAz

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