First Azerbaijani-Turkish energy forum kicks off in Baku

By Azernews

By Ayya Lmahamad

The 1st Azerbaijani-Turkish Energy Forum kicked off in Baku on December 22.

The forum is being held under the chairmanship of Azerbaijan's Energy Minister Parviz Shahbazov and Turkey's Energy and Natural Resources Minister Fatih Donmez.

A number of documents are planned to be signed within the framework of the forum between the two countries.

The 1st Azerbaijan-Turkey Energy Forum was established to ensure more rapid and effective strategic energy cooperation within the Joint Intergovernmental Commission on Economic Cooperation between Azerbaijan and Turkey.

Azerbaijan and Turkey cooperate in various fields of economy and have jointly completed giant energy and infrastructure projects such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Kars, and TANAP.

On June 15, Azerbaijan and Turkey signed the Shusha Declaration on Allied Relations, which focuses on defence cooperation, promoting regional stability and prosperity, and establishing new transportation routes.

In the first ten months of 2021, the trade turnover between Azerbaijan and Turkey amounted to $3.4 billion. The trade turnover between the two countries amounted to $4.1 billion in 2020.

The two countries set up a goal to bring the mutual trade turnover to $15 billion in 2023. It should be noted that so far, Turkey is Azerbaijan’s second-largest investor followed by the UK.

Additionally, Turkey was one of the first countries that expressed its interest and readiness to participate in the restoration of Azerbaijan’s liberated territories.