Over third of foreign companies in Azerbaijan are Turkish
Azerbaijan, Gabala, May 25 / Trend A.Akhundov /
Turkey is a major investor in the non-oil sector of Azerbaijan, the Minister of Economic Development of Azerbaijan Shahin Mustafayev said during a speech at the Azerbaijani-Georgian-Turkish business forum in Gabala on Saturday.
"Turkish companies in Azerbaijan are working as contractors and subcontractors on projects with participation of the state for a total of $ 4.7 billion. In recent years, Turkish investments in the non-oil sector in Azerbaijan exceeded $ 1.5 billion. Turkey is a leader in the non-oil investments in Azerbaijan," Mustafayev said.
According to him, in 2012, the trade turnover between the two countries increased by 20 percent, while Turkey ranked first among the countries exporting to Azerbaijan.
"To date, there 2,000 companies with Turkish capital operating in Azerbaijan and constituting 36 percent of all foreign companies operating in the country. In turn, the number of Azerbaijani companies operating in Turkey exceeds 1,100," Mustafayev said.
According to him, in the last two years, investments of Azerbaijan to Georgia amounted to $ 210 million. Azerbaijani entrepreneurs operate mainly in the sectors of energy, tourism, construction, industry and others. The activities undertaken by SOSAR (State Oil Company of Azerbaijan) in Georgia have created conditions for the opening of 7,700 new jobs.
"The trade turnover between the two countries increased in 2012 by 12 percent. Some 150 Georgian companies operate in Azerbaijan, and 300 Azerbaijani entrepreneurs are functioning in Georgia," the Minister said.