Azernews.Az

BAKU – Azerbaijan and Turkey will cooperate in the exploration of natural resources, according to a letter of intent signed at a meeting of the inter-governmental commission in Baku on Saturday.

The two countries’ governments explored avenues for expanding relations in a number of fields including energy, industries and trade.

Azerbaijani Deputy Prime Minister Abid Sharifov, who co-signed the final protocol with Turkish Energy Minister Taner Yildiz in conclusion of the meeting, said the document also focuses on cooperation in education and exchange of students, particularly in the field of medicine.

Yildiz said the joint commission's work plays a significant role in further strengthening of the multi-faceted Azerbaijani-Turkish cooperation.

He said economic relations between the two countries have been developing successfully in recent years.

"Whereas the trade turnover was at the level of $250-$300 million 10 years ago, it has now reached $2.5-$3 billion."

Yildiz said the two countries aim to bring the figure to $5 billion, adding that there is great potential to accomplish that goal.

Yildiz added that Turkey was closely following Azerbaijani investors' activities in areas such as tourism, transport and particularly in the oil sector.