Deputy minister: Türkiye ranks as Azerbaijan’s second most important trade partner

Azerbaijani First Deputy Minister of Economy Elnur Aliyev has said that Türkiye is Azerbaijan’s second most important trading partner.

He made these remarks during the 6th elective General Assembly of the "Turkish-Azerbaijani Businessmen and Industrialists" (TÜİB) Public Union held recently in Baku, Caliber.Az reports via local media.

“Azerbaijan and Türkiye are actively discussing the potential signing of a free trade agreement,” he said.

Aliyev stated that both countries are currently exchanging data on the economic implications of such an agreement. 

Among the key topics under review is the possibility of extending preferential trade benefits to products originating from Azerbaijan’s liberated territories. 

Highlighting the significance of Türkiye as Azerbaijan’s second most important trading partner, Aliyev noted, “Last year, our trade turnover reached $6.1 billion, and from January to April this year, it totaled approximately $2 billion,” underlining the robust economic relationship between the two nations.

Additionally, the deputy minister mentioned plans to broaden the list of goods qualifying for tariff preferences under the existing preferential trade agreement, aiming to further boost bilateral trade.

By Naila Huseynova