BAKU, Azerbaijan, December 21. Azerbaijani-Turkish investment forum was held in Baku, Trend reports.
Within the framework of the forum, opportunities for expanding Azerbaijani-Turkish cooperation in various directions were considered, investment and cooperation agreements were signed.
In particular, the Export and Investment Promotion Agency of the Republic of Azerbaijan (AZPROMO) and the Public Association of Businessmen and Industrialists of Azerbaijan and Türkiye (TÜİB) signed an action plan for 2024.
Azerbaijan's DO-DEM and Multipack signed an agreement. In addition, another agreement was signed between Diplomat LTD and Doğru Holdinq within the framework of the investment forum.
Azerbaijan's Economy Minister Mikayil Jabbarov, speaking at the event, said that Azerbaijan and Türkiye have held hundreds of business events as well as business forums.
He said Azerbaijan and Türkiye have prepared a project to restore 5 small HPPs in Azerbaijan's liberated territories.
"Opportunities have been created for investors in Azerbaijan to participate in projects in which Azerbaijan Investment Company is a partner within the framework of public-private partnership. In this context, the Azerbaijan Investment Company is negotiating with colleagues from Türkiye, and this year a project for restoration of 5 small HPPs in our territories liberated from occupation has been prepared," he said.
The minister emphasized that Türkiye ranks 1st in terms of Azerbaijan's investments in foreign countries.
"This clearly shows the level of development of investment partnership between our countries. Our country has invested $19.9 billion in Türkiye from 1995 to 6 months of 2023. It is gratifying that Türkiye ranks first among the countries investing in Azerbaijan's non-oil and gas sector," he said.
Deputy Minister of Digital Development and Transport of Azerbaijan Rahman Hummatov, in turn, noted that a decision was made to further expand the Baku-Tbilisi-Kars railroad and this work is close to completion.
According to him, there are a number of decisions regarding the infrastructure for the coming years.
"We have certain goals regarding railroads as well," he said.
Turkish Trade Minister Omer Bolat said Türkiye is ready to share its experience with Azerbaijan on the way to joining the World Trade Organization (WTO).
"We are satisfied with the constructive cooperation we have formed with Azerbaijan within the framework of the Organization of Turkic States. We are also ready to share our experience with Azerbaijan on the way of accession to the WTO," he said.
According to him, the agreement on preferential trade between the countries has an important role in terms of achieving the goals on the volume of trade turnover as soon as possible.
"We will finalize the internal processes of approving the Additional Protocol to expand the preferential trade agreement as quickly as possible," the minister said.
The event was attended by over 600 representatives of government agencies and private sector from both countries.
The forum included panel sessions covering investment, trade, agriculture, defense, green energy, health tourism sectors.
B2B meetings between entrepreneurs were also organized.
