Prospects of economic cooperation between Azerbaijan and Turkey discussed

"Nowadays, more than 2600 Turkish companies have been operating in Azerbaijan and about 1600 Azerbaijani companies in Turkey. Azerbaijan has invested $ 5 billion to Turkey and Turkey $ 6.3 billion to Azerbaijan. These two countries are active participants in a number of major energy and transport projects. The Baku-Tbilisi-Kars railway, the main transport project from Asia to Europe will increase the transit opportunities of these countries.”, said minister of Economy and Industry of Azerbaijan Shahin Mustafayev during the meeting with the delegation led by Turkish Economy Minister Nihat Zeybekci who is visiting Azerbaijan.

According to the Ministry, Shahin Mustafayev said that, political and economic ties between Azerbaijan and Turkey have reached a level of strategic partnership and develops successfully in all areas. He also emphasized that, mutual visits of the presidents, the meetings plays an important role in the development of relations between the two countries. About 190 documents were signed between Azerbaijan and Turkey.

The Minister recalled the opportunities on development of bilateral and transit cargo transportation between the two countries, establishment of agro parks, to attract Turkish investors to industrial parks, exchange of experiences in the field of creation of mechanisms for the promotion of exports and industrial districts, expanding cooperation in agriculture, food, textile, tourism and banking sectors, establishment of joint ventures in 3rd countries, also suggested the further development of the relations in these fields.

The Minister offered the organization of trilateral meetings of economic ministers of Azerbaijan-Turkey-Georgia, Azerbaijan-Turkey-Iran during the next two months and agreed on it. Besides, trilateral meetings on Azerbaijan-Turkey-Turkmenistan, Azerbaijan-Turkey-Kazakhstan are planned to be held.

Nihat Zeybekci expressed his satisfaction with his visit to Azerbaijan and the rapid development of the country, underlined the importance of further expansion of Azerbaijan-Turkey relations. He noted the opportunities for development of economic cooperation and trade relations using the potential of the two countries, shared his views on the new directions of economic cooperation and proposed the creation of trade relations in the field of agriculture. A decision was made to continue supporting the activities of business associations, including the Association of Businessmen of Azerbaijan in Turkey.

Implementation of PETKİM, STAR, the Southern Gas Corridor and the Baku-Tbilisi-Kars projects and other issues of mutual interest were also discussed at the meeting.