Turkey leads in applications number to conduct business in Azerbaijan's liberated lands

By Azernews

Turkish companies are leading in the number of applications from foreign companies to conduct business in Azerbaijan's liberated territories, Azernews reports.

The remarks were made during the general meeting of the Turkish-Azerbaijan Businessmen and Industrialists Public Union.

Speaking at the event, Azerbaijan's Agency for Small and Medium Business Development Chairman Orkhan Mammadov underlined the expansion of cooperation between the two countries in all spheres, including SMBs.

Noting that the agency is implementing joint initiatives with relevant Turkish agencies, he stated that this cooperation contributes to the further development of business relations between the two countries. He added that these joint initiatives include a souvenir enterprise and a greenhouse farm in the village of Jojug Marjanli in Jabrayil region.

Mammadov also emphasized that Turkish businessmen have many opportunities to expand their activities in Azerbaijan. In this regard, he added that the agency is ready to support Turkish businessmen working in Azerbaijan or wishing to start businesses.

Azerbaijan and Turkey collaborate in a variety of economic fields and have completed major energy and infrastructure projects such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Kars, and TANAP.

Turkey imports Azerbaijani natural gas through the South Caucasus Gas Pipeline (Baku-Tbilisi-Erzurum) and TANAP.  Azerbaijan supplies gas to Turkey only from the Shah Deniz field. The supplies have been made since July 2007.

In 2021, Azerbaijan and Turkey signed the Shusha Declaration on Allied Relations, which focuses on defense cooperation, promoting regional stability and prosperity, and establishing new transportation routes.

The two countries' joint goal among others is to bring the mutual trade turnover to $15 billion in 2023. As of 2021, the trade turnover between the two countries amounted to $4.6 billion. 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.