Azernews.Az

Members of the Azerbaijani-Turkish Business Association (ATIB) are planning to increase investments in Azerbaijan, head of the ATIB, Cemal Yangin, told journalists on Friday.

He said investments of ATIB members in Azerbaijan's economy will increase by one billion dollars in 2014, reaching four billion dollars.

Yangin said that entrepreneurs from Azerbaijan and Turkey are also planning to increase joint investments in third countries. In particular, as of today, most joint Turkish-Azerbaijani investments were made in Russia.

"In Russia, there are many companies created based on joint Turkish-Azerbaijani investments," he said.

Yangin said neighbouring countries are a priority in the joint investments of entrepreneurs from Azerbaijan and Turkey.

Representatives of the Eurasian region committee of the Turkish Business Council (DTIK) under the Foreign Economic Relations Board (DEIK) are on a visit to Baku on February 21-23.

Turkish businessmen from Russia, Kazakhstan, Ukraine, Turkmenistan, Georgia and Azerbaijan held a number of meetings with representatives of ATIB and some Azerbaijani officials.

The committee representatives met with Azerbaijani Minister of Economic Development Shahin Mustafayev. The meeting focused on bilateral economic relations between Azerbaijan and Turkey.

ATIB was established on April 17, 2004. Some 86 member companies invested over three billion dollars in the Azerbaijani economy. These companies employ about 40,000 people.