Zangazur corridor to open up new alternatives in logistics, trade - Turkey's Foreign Economic Relations Organization (UPDATE)

Politics Materials 14 December 2021 14:05 (UTC +04:00)

Details added: the first version posted on 12:45

BAKU, Azerbaijan, Dec. 14

By Chingiz Safarli - Trend:

Zangazur corridor will connect Turkey and Azerbaijan by land and open up new alternatives in logistics and trade, Head of the Organization for Foreign Economic Relations of Turkey Nail Olpak said at the Azerbaijani-Turkish-Georgian business forum in Baku, Trend reports on Dec. 14.

According to Olpak, the trade turnover between Azerbaijan and Turkey amounts to $2.5 billion.

"It’s necessary to strengthen cooperation in the fields of agriculture, infrastructure, and mining. Besides, the process of restoring the Azerbaijani territories liberated from the Armenian occupation [in the 2020 Second Karabakh War] is important not only for Azerbaijan but also for all of us. We think that we’ll be able to support this with our projects," he noted.

"Along with investment projects, there is also the issue of financing. Turkey has extensive experience in this area, therefore we believe that its application will be useful both in Azerbaijan and in Georgia," added the official.

The Azerbaijan-Turkey-Georgian business forum is being held in Baku.

Minister of Economy and Sustainable Development of Georgia Natia Turnava, Minister of Trade of Turkey Mehmet Mush, and Minister of Economy of Azerbaijan Mikayil Jabbarov are participating in the business forum.

The business forum is aimed at further strengthening trilateral cooperation between Baku, Tbilisi, and Ankara, which are participants of such important projects as Baku-Tbilisi-Kars, Baku-Tbilisi-Erzurum, Baku-Tbilisi-Ceyhan, and the Southern Gas Corridor. The Azerbaijan-Turkey-Georgian Business Forum has been held since 2012. Baku is hosting the seventh business forum.