Baku hosts Azerbaijan-Türkiye Investment Forum

By Ruslan Rehimov

BAKU (AA) - The Azerbaijan-Türkiye Investment Forum was organized in the capital Baku on Thursday, with the participation of trade ministers from both countries.

Held in cooperation with The Export and Investment Promotion Agency of the Republic of Azerbaijan (AZPROMO) and Türkiye-Azerbaijan Businessmen's and Industrialists' Association (TÜİB), the forum opened at the Heydar Aliyev Centre, one of the modern architectural symbols of Baku.

Azerbaijan's Economy Minister Mikayil Jabbarov said Türkiye is his country's second main trading partner and the volume of trade in 11 months of 2023 increased by 33% compared to the same period in 2022, reaching $7.2 billion.

He added that Turkish companies were actively participating in the reconstruction works in the Karabakh region.

An action plan for 2024 was also signed by AZPROMO director Yusif Abdullayev and TUİB President Huseyin Buyukfirat.

Omer Bolat, the Turkish trade minister, said 2023 was a year of recession for the world economy, but economic growth and exports showed "the strength and resilience of Türkiye's economy."

"Türkiye's economy has managed to come out of every difficulty it has experienced throughout history with success and strength," he said.

Bolat said "we will continue to stand by our friend and brother Azerbaijan with all our means."

With the Shusha declaration signed on June 15, June 2021, Türkiye and Azerbaijan raised its relations to the level of alliance, Bolat said, adding: "The preferential trade agreement between our countries, which has been in force since 2021, is an important milestone on the way to sign a free trade agreement."

*Writing by Gokhan Ergocun in Istanbul