Azerbaijan second for number of businesses in Turkey

/By AzerNews/

By Aynur Karimova

Azerbaijan has become the second for the number of joint stock companies established in Turkey, being only behind Germany.

The country’s businessmen established 46 joint stock companies in Turkey, thus, being second after German entrepreneurs with 84 JSCs, local media reported with reference to the Union of Chambers and Commodity Exchanges of Turkey.

Also, Azerbaijan left behind Russia for the number of limited liability companies and was the 7th.

In general, Azerbaijani citizens and companies participated in the establishment of 158 companies in Turkey's various regions in January-November 2015.

This figure was 153 in the same period of 2014. The union said that the number of companies with Azerbaijani capital in Turkey is increasing in a stable temp.

The volume of investments made in the newly established companies amounted to about 57 million liras ($19 million). Some 50.7 million liras ($16.9 million) of this volume accounted for Azerbaijani citizens and companies.

The volume of investments of the Azerbaijani businessmen in these newly established companies increased by 30.3 percent.

Roughly 507 new companies with Azerbaijani capital were founded in Turkey in 2013-2015. The volume of investment made in the formation of their capital was 143 million liras ($47.76 million) currency equivalent.