TODAY.AZ / Business

Azerbaijan urges Turkic-speaking countries to up mutual investment

01 December 2017 [09:52] - TODAY.AZ

By  Trend

The countries-members of the Cooperation Council of Turkic Speaking States (Turkic Council) have great opportunities for mutual investment.

Azerbaijani Economy Minister Shahin Mustafayev made the remark at the 7th meeting of the Economy Ministers of Turkic-council in Istanbul.

The minister invited the member countries to take advantage of this potential, as well as realize transit potential.

"To increase the volume of cargo transportation and preferring transit routes passing through our countries, coordination platforms should be expanded with the member countries of the Turkic Council and with other Turkic-speaking countries," Mustafayev said, inviting the member countries to take advantage of the opportunities of the Alat Free Economic Zone, industrial parks and qdistricts, established in Azerbaijan, the logistics center of Azerbaijan in Aktau, as well as the Baku International Sea Trade Port.

The minister noted that Azerbaijan attaches great importance to trade and investment cooperation with the countries of the Turkic Council, and relations between businessmen.

He recalled that in January-September 2017 the trade turnover between Azerbaijan and the member countries of the Turkic Council amounted to $ 2.1 billion, including $ 1 billion in imports and $ 1.1 billion in exports. During this period, the share of the member countries of the Turkic Council in the foreign trade turnover of Azerbaijan was 15 percent, including 16 percent in imports, and 13 percent in exports.

Touching upon economic ties with Turkey, Mustafayev highlighted trade and investment between the countries, joint projects, adding that an agreement on preferential trade, the discussion of which is scheduled for Dec.1, will support the growth of trade.

In conclusion, the Protocol of the Seventh Meeting of the Ministers of Economy of the Countries of the Cooperation Council of Turkic Speaking Countries was signed

The meeting also discussed issues of further strengthening of economic cooperation between the countries, attracting Turkish investors to agro-parks and industrial parks, established in Azerbaijan, increasing transit cargo transportation, expanding trade jets, etc.


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