Turkish Energy Minister to visit Azerbaijan - UPDATE

Turkish Energy and Natural Resources Minister Taner Yildiz  will pay one-day visit to Baku on Saturday, Jan. 22, a source in the Energy Ministry of Turkey said.

The participation at the sixth session of the intergovernmental commission on trade and economic cooperation between Turkey and Azerbaijan is the purpose of the visit. Taner Yildiz is co-chair of the Commission.

Turkish minister will be accompanied by the head of the national oil company TPAO and CEO of Botas.

During the visit, Yildiz is expected to meet with Azerbaijani President Ilham Aliyev and the country's Deputy Prime Minister Abid Sharifov, the ministry said. Taner Yildiz and Abid Sharifov are co-chairmen of Turkey-Azerbaijan intergovernmental commission.

Yildiz will arrive in Baku on the night from Friday to Saturday and leave Azerbaijani capital on Saturday evening.

According to the statistics from the Turkish Treasury as of late September 2010, Turkish investments in Azerbaijan reached $3.825 billion. Roughly $3.573 billion of this amount was invested in the energy sector of Azerbaijan. Roughly $17.588 million was invested in Azerbaijan's banking sector, $15.908 million in trade, $169.062 million - IT and communications, $ 40.181 million - the industrial sector, $4.906 million - construction, $2.066 million - the mining industry, $650.900 - insurance, $1.03 million - other areas.

Turkish investors invested $3.971 million in the Azerbaijani economy for the first nine months of 2010. Three Turkish companies were established. Five companies were established in 2009. Roughly $304.666 million was invested.

Turkish investors have been operating in roughly 3,500 companies in 103 countries, mostly in the energy and banking sectors, and in information technologies, communications, processing industry and trade.


/Trend/