Türkiye's ambitious trade target: $15 billion goal with Azerbaijan

Murat Yaman, Chief Trade Counsellor of the Turkish Embassy in Azerbaijan, announced Türkiye’s ambitious goal to boost the trade turnover with Azerbaijan to $15 billion.

This statement came during the conference presentation of the Turkish Trade Exhibition, where he highlighted the progress and potential in bilateral economic relations, Caliber.Az reports via local media.

Yaman reported that Turkish firms have successfully completed $2 billion worth of contract work in the Karabakh region. This involvement underscores Türkiye's significant role in Azerbaijan’s reconstruction and development efforts. He also pointed out that Azerbaijan presents a valuable opportunity for Turkish companies to access the CIS market, broadening their regional reach.

“Economic and trade relations between Azerbaijan and Türkiye are advancing rapidly across various sectors,” Yaman remarked. “Our aim is to increase the trade turnover between our countries to $15 billion.”

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.