Turkish investments in Azerbaijan's Karabakh to favor opening new jobs - expert

By Trend

The initial investment of $50 million by Turkish companies in the creation of textile factories in Azerbaijan’s Karabakh region will favor the opening of new jobs, Ruslan Atakishiyev, Chairman of the Center for the Study of Economic Resources, told Trend on Jan.26.

According to Atakishiyev, the factories will use the Turkish experience, which in turn will contribute to the development of the local market.

“Turkey is an important participant in the global textile market. This area is one of the foundations of the economy of the brotherly country. The creation of textile enterprises in Karabakh will form new local brands. Additional jobs will be created for the citizens returning to the liberated Karabakh," he said.

Atakishiyev stressed that the development of the liberated territories is in the interests of neighboring states.

“Three Iranian companies have already expressed their interest in working in the region. The construction of a new bridge in the liberated Jabrayil district’s Khudaferin settlement will contribute to the creation of a new market,” the chairman noted. “Tabriz, one of the major cities of Iran, is located near the liberated territories. Given this, it’s possible to create Azerbaijani-Iranian joint-stock companies involved in food, textile, tourism, and other sectors.”

“Besides, cooperation can be established with Russian agricultural companies," added Atakishiyev.

The territories had been liberated from Armenian occupation during the 44-day war (from late Sept. through early Nov. 2020).