Baku, Ankara discuss insurance sector co-op

By Azernews

By Ayya Lmahamad

Azerbaijan and Turkiye have discussed future cooperation in the insurance sector, Azernews reports.

The discussion took place during a videoconference between Azerbaijan's Central Bank Governor Taleh Kazimov, Turkiye's Insurance and Private Pension Regulation and Supervision Authority Head Mehmet Akif Eroglu, and Turkiye's Insurance Information and Monitoring Center CEO Serkan Avci. Other representatives of the above institutions also participated in the meeting.

"Today we met through video conferencing with Mehmet Akif Ero?lu, Head of the Insurance and Private Pension Regulation and Supervision Authority, #Turkiye (@seddkofficial) and Serkan Avci, CEO of the Insurance Information and Monitoring Center, #Turkiye (@sbmkurumsal) and representatives from both institutions. We discussed current and future cooperation issues between our institutions," Taleh Kazimov tweeted.

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

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

The two countries set up a goal of bringing the mutual trade turnover to $15 billion in 2023. As of 2021, the trade turnover between the two countries amounted to $4.6 billion. So far, Turkiye is Azerbaijan’s second-largest investor followed by the UK.

Additionally, Turkiye was one of the first countries keen on involvement in the restoration of Azerbaijan’s liberated territories.