Envoy: Türkiye wants to increase trade turnover with Azerbaijan to $15 billion

Türkiye intends to increase trade turnover with Azerbaijan from $8 billion to $15 billion, said Turkish Ambassador to Azerbaijan Cahit Bağcı.

He made the remarks at an event on the occasion of the 101st anniversary of the establishment of the Republic of Türkiye, Caliber.Az reports, citing local media.

He noted that there is a unique brotherhood between Türkiye and Azerbaijan:

“Azerbaijan with its own efforts has provided justice in the South Caucasus, which the global system could not provide. Everyone should know that the peace that will be established in the region will benefit not only the region, but also the whole world. Türkiye will always stand by Azerbaijan on this path and no force can destroy this friendship,” Bağcı underlined.

The ambassador said that Türkiye would give Azerbaijan its full support during the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29).

“Türkiye will participate in the conference at the highest level,” he added.

For the record, historical investment figures reveal the depth of the economic ties between the two nations. Since 1995, Azerbaijan has invested approximately $20 billion into Türkiye, while Turkish investments in Azerbaijan have amounted to $16 billion, according to the Azerbaijani Ministry of Economy. Türkiye holds the position of the second-largest foreign investor in Azerbaijan, with about 4,200 Turkish-invested commercial enterprises currently operating in the country.

By Khagan Isayev