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Minister reports trade turnover between Azerbaijan, Turkiye

21 December 2023 12:44 (UTC+04:00)
Minister reports trade turnover between Azerbaijan, Turkiye
Asim Aliyev
Asim Aliyev
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At the Azerbaijani-Turkish Investment Forum dedicated to the 100th anniversary of Heydar Aliyev and the Republic of Turkiye held in Baku on December 21, Economy Minister Mikail Jabbarov stated that cooperation between Azerbaijan and Turkey in the economic sphere is not limited to bilateral relations, Azernews reports.

''We also realise mega projects contributing to regional development and security.''

The density of relations between the two countries is also reflected in the figures, the minister said.

Minister Jabbarov added that "Turkiye is the main trade partner of Azerbaijan. In the first 11 months of this year, trade turnover between our countries amounted to 7.2 billion dollars, which is 33 percent more than in the corresponding period of last year. Exports increased by more than 52 percent and amounted to 5.1 billion dollars".

Miikail Jabbarov emphasised that Turkiye ranks first in terms of Azerbaijan's investments in foreign countries. This clearly shows the level of development of investment partnerships between our countries.
The Minister noted that from 1995 to the first six months of 2023, our country has invested 19.9 billion dollars in brotherly Turkey.

"We can proudly say that megaprojects implemented on the joint initiative and with the participation of Azerbaijan and Turkey, contributing to regional development and security, are of global significance. Effective cooperation in the energy sector, signed documents, successfully implemented joint initiatives, and projects further strengthen the positions of our countries in the international arena." "Baku-Tbilisi-Ceyhan oil pipeline, Baku-Tbilisi-Erzurum gas pipeline, Southern Gas Corridor, and TANAP projects are of great importance in the formation of energy infrastructure between Europe and Asia."

Touching upon the topic of the Igdir-Nakhchivan gas pipeline, which was laid in Nakhchivan in September this year with the participation of the heads of state of both countries, the minister emphasised that construction works on the project are currently ongoing.

"This project is another example of Azerbaijani-Turkish brotherhood. The realisation of cooperation opportunities in the field of renewable and green energy is one of the important directions of mutually beneficial partnerships. Within the framework of Azerbaijan's cooperation with foreign investors, it is possible in the future to export energy obtained as a result of the realisation of alternative and renewable energy projects to the countries of the region, including Turkey and Europe," the minister added.

The Economy Minister also stated that the plan to build the Kars-Nakhchivan railroad should be seen as the creation of a new branch of the Middle Corridor (Trans-Caspian International Transport Route).

He noted that the road, which will pass through the territory of Zangilan, Iran, Nakhchivan and again through Turkey, will further strengthen our partnership in the field of transportation.

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