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PM: Trade turnover between Azerbaijan, Turkey to increase to $15 billion

Business Materials 13 November 2013 18:27 (UTC +04:00)
Turkey aims at increasing trade turnover with Azerbaijan up to $15 billion.
PM: Trade turnover between Azerbaijan, Turkey to increase to $15 billion

Baku, Azerbaijan, Nov. 13

By Rufiz Hafizoglu - Trend: Turkey aims at increasing trade turnover with Azerbaijan up to $15 billion, Prime Minister of Turkey, Recep Tayyip Erdogan said, Turkish TV channel TRT Haber reported on Nov. 13.

The Turkish PM made the remarks at a press briefing held after the third meeting of the Supreme Council on Strategic Partnership between Azerbaijan and Turkey.

According to Erdogan, at present the trade turnover between the countries has reached $4.2 billion and it is expected that this figure will increase to $15 billion.

The prime minister also said that Turkey and Azerbaijan are implementing strategically important economic projects, and they are expected to develop in the future.

"Trans-Anatolian Gas Pipeline (TANAP) project is one of the most important economic projects of Azerbaijan and Turkey," Erdogan underscored.

The Turkish PM also said the issues discussed between Azerbaijan and Turkey included the issue of constructing a gas pipeline from Turkey's Igdir province to Azerbaijan's Nakhchivan Autonomous Republic, as well as construction of a railway to Nakhchivan from this province of Turkey.

TANAP project envisages transporting gas from Shah Deniz field to Europe via Turkey.

The initial capacity of the pipeline is expected to reach 16 billion cubic meters per year. About six billion cubic meters will be delivered to Turkey, and the remaining will be supplied to Europe.

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