BAKU, Azerbaijan, June 28. Türkiye registered 98 Azerbaijani-capitalized firms from January through May 2024, 13 fewer than in the same period of 2023, the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) said, Trend reports.
"While the total capital of Azerbaijani companies registered in Türkiye amounted to 59.9 million Turkish liras ($1.8 million) in the reporting period, this figure rose to 109.4 million Turkish liras, or $3.3 million, in the same period of 2023," TOBB stated.
The agency also pointed out that from January through May 2024, the lion's share of Azerbaijani companies were registered in Istanbul, amounting to a whopping 82.
"The total capital of Azerbaijani companies registered in Istanbul amounted to 53.2 million Turkish liras, or $1.6 million," TOBB noted.
In addition, a whopping 43 trading companies with Azerbaijani capital set up shop in Türkiye from January through May 2024, while the rest of the companies are busy making their mark in various other sectors of the economy.