Azerbaijan, Turkiye ink MoU on construction industry co-op
Ayya Lmahamad
Read moreAzerbaijan and Turkiye have signed a memorandum of understanding on improving the regulatory and unified evaluation system in construction, Azernews reports.
The document was signed by Azerbaijan's Emergency Situations Minister Kamaladdin Heydarov and Turkiye's Environment, Urbanization and Climate Change Minister Murat Kurum.
The memorandum envisages strengthening cooperation in the construction industry between the two countries.
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 through establishing new transport routes.
The two countries set up a goal of bringing 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 keen on involvement 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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