The Azerbaijan-Türkiye Investment Forum was held on Thursday here.
Azerbaijan's Minister of Economy Mikayil Jabbarov, Turkish Minister of Trade Omer Bolat and President of the Finance Office of Türkiye Göksel Aşan attended the forum.
“The cooperation between Azerbaijan and Türkiye in the economic field is not limited to bilateral ties. We also implement mega projects contributing to the regional development and security,” said Azerbaijani Economy Mikayil Jabbarov.
According to him, the close relations between the two countries is also reflected in the trade figures. “Türkiye is Azerbaijan’s major trading partner. During 11 months of this year, the trade between the two countries amounted to $7.2 billion, which is 33 percent more than in the same period of the last year. Exports increased by more than 52 percent and amounted to $5.1 billion," the minister emphasized.
He also noted that Türkiye ranks first in terms of Azerbaijan's investments in foreign countries, which demonstrates the development of the investment partnership between the two countries.
Jabbarov underscored that Azerbaijan had invested $19.9 billion in fraternal Türkiye in the period from 1995 to the six months of 2023. He also described the fact of Türkiye ranking first among the countries investing in Azerbaijan’s non-oil and gas sector as gratifying.
In his remarks, Turkish Minister of Trade Omer Bolat noted that the opening of the Zangezur corridor would mark the creation of a land road connection between Türkiye and Azerbaijan via Nakhchivan. “Azerbaijan is one of the important countries of the Middle Corridor. We want to ensure more convenient and competitive way of cargo transportation from Istanbul to Baku, and Türkiye is ready to provide full support,” the deputy minister added.
The Forum also featured the signings of documents between the relevant institutions of Azerbaijan and Türkiye, including the agreement between The Export and Investment Promotion Agency of Azerbaijan (AZPROMO) and the Public Union of Turkish-Azerbaijan Businessmen and Industrialists (TUİB).
According to the agreement, the Action Plan for 2024 envisages increasing the volume of trade and investment, strengthening cooperation between Azerbaijan and Türkiye, as well as supporting mutual investment opportunities and promoting joint projects in line with sustainable development goals.
Under the agreement signed between Azerbaijan's DO-DEM LLC and Türkiye’s Multipak company, a new plant for producing paper-based and environmentally friendly containers will be built in Azerbaijan. Another document signed between Azerbaijani Diplomat LTD company and Turkish Dogru Holding envisages the construction of a hotel in Azerbaijan.
The forum also featured the panel sessions on investment, role of transport and logistics hubs in increasing the trade turnover, defense, food and agricultural industries, and green energy
