Turkish-Azerbaijani Investment Fund to be established

Economy Materials 19 February 2021 20:50 (UTC +04:00)
Turkish-Azerbaijani Investment Fund to be established

BAKU, Azerbaijan, Feb. 19


Despite the COVID-19 pandemic, trade turnover between Turkey and Azerbaijan increased by five percent in 2020 and amounted to $4.6 billion, Turkish Vice President Fuat Oktay said.

Oktay made the remark following the meeting of the Joint Intergovernmental Commission on Economic Cooperation between Azerbaijan and Turkey, Trend reports.

“The protocol signed following the meeting and consisting of 138 articles corresponds to the messages of the presidents of Turkey and Azerbaijan to the world after the glorious victory of Azerbaijan in the Nagorno-Karabakh region,” the Turkish vice president added.

"Our goal is to increase trade turnover between the two countries up to $15 billion by 2025,” Oktay said.

“During today's meeting, we discussed the possibilities of cooperation in various fields, in particular, the creation of the Turkish-Azerbaijan Investment Fund, partnership in the field of wind and solar energy, joint development of fields,” the Turkish vice president said.

“We agreed on a 138-clause plan and agreed to expand the scope of the trade agreement,” Oktay added. “Our intention is to sign a free trade agreement in the future."