'Turkey, Azerbaijan and the United Kingdom: A triumvirate of prosperity?'

Turkish newspaper Today`s Zaman has published an article called “Turkey, Azerbaijan and the United Kingdom: A triumvirate of prosperity?”.

The aricle`s author, Vanessa Raine, a business coordinator of The European Azerbaijan Society, says: “At a time when the Western economies face serious recession, Turkey and Azerbaijan have emerged as the parfum du mois in terms of attracting the attention of businesses in the UK and elsewhere -- in large measure thanks to their increased significance as rapidly growing emerging economies, energy producers and regional hubs as well as their roles in achieving peace and security in Eurasia and the Middle East.”

“Both Turkey and Azerbaijan enjoy a special, historic relationship with the United Kingdom, which has become all the more important in today`s bleak world circumstances. Indeed, this year`s annual The European Azerbaijan Society (TEAS) Business Forum, Azerbaijan and Turkey - Diverse Investment Opportunities, captured this theme when it took place at No.4 Hamilton Place in London, focusing as it did on a wide range of business sectors, including energy, project finance, investment banking, ICT, agriculture and fast-moving consumer goods. The event featured around 40 speakers, each providing comment and opinion on their field of expertise, and attracted more than 250 lords, MPs, diplomats, investors and businesspersons from the UK, Azerbaijan, Turkey and across Europe. H.E. Ünal Çeviköz, Turkish ambassador to the UK, and H.E. Fakhraddin Gurbanov, Azerbaijani ambassador to the UK, were among the prominent participants.”

Raine says: “Azerbaijan has one of the fastest-growing economies in the world…Few bilateral relationships have been closer during the past two decades than Azerbaijan and Turkey`s, with strong linguistic, ethnic and cultural ties acting like diplomatic super glue. By late 2017, the State Oil Company of the Azerbaijan Republic`s (SOCAR) investments in the Turkish economy are likely to reach $17 billion, making it the biggest international investor.”

“H.E. Peter Bateman, recently appointed UK ambassador to Azerbaijan, acknowledged: “Azerbaijan ... experienced the highest GDP growth in the world in 2005 at 35 percent. It is now time for this wealth to benefit the rural areas of Azerbaijan but, as the country is destined for 30-40 years of considerable oil revenues, this will happen. Altogether, more than 150 UK companies are present in Azerbaijan, not just in hydrocarbons, but in the retail and financial services sectors, amongst others.”

The article says: “Let`s not forget that Azerbaijan was the first secular democracy in the Islamic world, created in 1918. It gave the vote to women before women in the UK or the US had the vote, which is a tremendous history. However, Azerbaijan`s development was halted when it was annexed by the Soviet Union back in 1920. Of course, Azerbaijan was under the Soviet yoke for 71 years before its battle for independence began.”

“The trilateral relationship between the UK, Azerbaijan and Turkey will likely enhance commercial and political opportunities and benefit what represents a triangle of prosperity in the region. If we add the EU dimension to this strategic partnership, it will become even stronger and expand the EU`s outreach to the borders of Central Asia.”


/AzerTAc/