Mehmet Aydin: "Foreign capital flow to Azerbaijan will also contribute to relationship between Azerbaijan and Turkey"

He is a Turkish co-chair of Turkish-Azerbaijani intergovernmental economic commission and will therefore visit Baku to attend meeting of the commission to be held July 27-28.

Considering decrease in trade turnover between Turkey and Azerbaijan as normal, Mr. Aydin said that Azerbaijan develops rapidly and integrate into world economy.

"Azerbaijan needed close relationship with Turkey mainly for trade some years ago. Azerbaijan has its own financial support now and the development is in full view of everybody."

Answering a question on Turkey's participation in making investment in Azerbaijan, Mr. Aydin said that Turkey is very pleased with this flow.

"Attraction of foreign investment to Azerbaijan is very vital. At the same time, trade turnover with Turkey will also rise and foreign capital flow to Azerbaijan will also contribute to relationship between Azerbaijan and Turkey."

As APA reports, trade turnover between Azerbaijan and Turkey has doubled during past two years. The figure was $438mn in 2003 and it reached $536mn in 2004, $794mn in 2005.

Turkey's participation in foreign trade turnover of Azerbaijan constituted 40% in 1997, 30% in 1998, 23% in 1999, 19% in 2000, 15% in 2001, 13% in 2003, 11% in 2004 and 13% in 2005.

Turkish then state minister Kurshat Tuzmen stated during his visit to Baku in 2004 that trade turnover between Azerbaijan and Turkey is low and it was vital to raise it to $1bn shortly and to $3bn in the nearest future.

Turkish Prime minister Recap Tayyip Erdogan also stated during his visit to Baku last year that the trade turnover was not desirable.

As a comparison, it is interesting to mention that trade turnover between Russian and turkey equaled $16bn in 2005 and it is forecasted to reach $25bn in 2008.