Minister: Türkiye-Azerbaijan trade nears $8 billion ahead of investment forum

Mutual trade turnover between Türkiye and Azerbaijan reached nearly $8 billion in 2024, Türkiye’s Minister of Trade Omer Bolat announced.

Speaking to the press after meeting with Huseyin Buyukfirat, President of Türkiye-Azerbaijan Businessmen's and Industrialists' Association (TÜİB), Bolat highlighted the goals of the upcoming 2nd Azerbaijan–Türkiye Investment Forum in Baku, Caliber.Az reports per local media.

“The forum aims to create networking opportunities for businesspeople, discuss investment projects, and identify sectors with potential for increased trade,” he said.

Bolat emphasized the scale of bilateral investments to date: “Turkish investors have so far invested about $17 billion in Azerbaijan, while Azerbaijan has invested more than $21 billion in Türkiye.” He also highlighted the role of Turkish contractors, noting that they have completed approximately 585 projects worth around $21 billion in Azerbaijan.

Earlier, Bolat received Buyukfirat at the Trade Ministry, where discussions focused on enhancing bilateral trade relations and finalizing preparations for the forum.

The 2nd Azerbaijan–Türkiye Investment Forum will take place in Baku on December 23, organized in partnership with Azerbaijan’s Ministry of Economy and Türkiye’s Ministry of Trade, and jointly coordinated by the Export and Investment Promotion Agency of Azerbaijan (AZPROMO) and TÜİB.

The forum is expected to host a high-level Turkish delegation led by Presidential Advisor Cevdet Yılmaz and Trade Minister Omer Bolat, alongside officials, representatives of public and private institutions, business associations, and chambers from both countries.

Panel sessions will cover topics including regional trade promotion, energy transition, sustainable development, infrastructure projects, expansion of bilateral business ties, and the Fourth Industrial Revolution, providing a platform to strengthen economic cooperation between the two fraternal nations.

By Vafa Guliyeva