Turkey, Azerbaijan reassert commitment to boost trade, investment
Azerbaijani Prime Minister Ali Asadov highlighted that strengthening economic and trade relations with Türkiye remains a key priority. He noted that Azerbaijan has invested over $20 billion in Türkiye, while Turkish investments in Azerbaijan total approximately $18 billion. “We are committed to maintaining steady mutual investments," he said, urging Turkish business leaders to play a more active role in Azerbaijan, particularly amid economic reforms, reconstruction projects in Karabakh, and initiatives in free trade zones.
Turkish Trade Minister Omer Bolat pointed out that bilateral trade grew from $2.6 billion in 2016 to $8 billion, emphasizing the aim of making mutual trade a top priority. He underscored Azerbaijan’s strategic significance as a transit hub, noting that the Zangezur Corridor and the Middle Corridor would boost regional and global trade. "With the Zangezur Corridor, which we expect to be completed soon, Türkiye will have rapid access to Central Asia and the Far East," Bolat said. "Likewise, the Middle Corridor, passing through Azerbaijan and Türkiye, will have an accelerating effect on global trade."
Huseyin Buyukfirat, chairman of the Türkiye-Azerbaijan Businessmen and Industrialists Union, described the Zangezur Corridor as a strategic initiative that will enhance trade, connectivity, and long-term prosperity throughout the region.
During the forum, Azerbaijan’s state oil company SOCAR signed an agreement to acquire all shares of the GAMA Energy Central Anatolia Natural Gas Combined Cycle Power Plant. The event concluded with panel discussions covering Industry 4.0, agriculture, trade and logistics corridors, and access to finance.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
