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Azerbaijan - leader in making investments in Turkey

Business Materials 21 June 2020 14:03 (UTC +04:00)
Azerbaijan - leader in making investments in Turkey

BAKU, Azerbaijan, June 21

By Fidan Babayeva - Trend:

Azerbaijan is the leader in making investments in Turkey while TANAP and TAP projects influence the balance of the European energy market, Member of the Board of the Union of Chambers and Commodity Exchanges of Turkey (TOBB), Chairman of the Board of Terra Ilac Ve Kimya San. Tic. A.S. Ozturk Oran said.

Oran made the remark at the video conference to prepare for the first full meeting of the board of the Turkey-Azerbaijan Chamber of Commerce and Industry, Trend reports.

“TOBB creates joint chambers with the relevant structures of several countries,” member of TOBB board added.

Oran expressed confidence that its activity will intensify in the future.

“The COVID-19 pandemic at the global level led to a decrease in trade turnover, import and export operations,” member of TOBB board said. “The first meeting of the Turkey-Azerbaijan Chamber of Commerce and Industry was scheduled for April 2020 but it was postponed due to the pandemic. I proposed to hold the first board meeting of the Turkey-Azerbaijan Chamber of Commerce and Industry via video conference."

President of Cahan Holding Vugar Abbasov stressed the importance of Turkish President Recep Tayyip Erdogan’s visit to Azerbaijan to participate in the 8th meeting of the Azerbaijan-Turkey High-Level Strategic Cooperation Council on February 25, 2020 and emphasized that within his visit, specific tasks were set to increase the trade turnover between the relevant state structures of the two countries.

"The agreement on the Kars-Igdir-Aralik-Dilucu-Sadarak-Nakhchivan-Julfa railway line project reached during the visit will be an important contribution to the development of economic ties between the two countries," Abbasov said.

Chairman of the Board of the Azerbaijani-Turkish Business Association, Head of Istanbul Carsi Import & Export LTD in Ankara Jamal Yangin said that it will be possible to conduct joint trading operations in third countries, as well as search for new partners through the Turkey-Azerbaijan Chamber of Commerce and Industry.

"Turkey-Azerbaijan Chamber of Commerce and Industry understands its significant role in increasing trade turnover between Azerbaijan and Turkey," Yangin said.

Deputy Secretary General of the Azerbaijani National Confederation of Entrepreneurs (Employers) Fuad Humbatov stressed the great potential of the Turkey-Azerbaijan Chamber of Commerce.

President of the Confederation Mammad Musayev has repeatedly stressed that it is necessary to organize joint business missions for the CIS countries, as well as the Persian Gulf countries, with which the Confederation has broader ties.

In turn, Secretary General of the Turkish Chamber of Commerce and Industry Adem Kula stressed that the Turkey-Azerbaijan Chamber of Commerce and Industry creates great opportunities for further improving the structural capabilities of the Confederation and stressed the readiness of TOBB for full cooperation in terms of technical support.

At the same time, while speaking about the importance of the preferential trade agreement signed between Azerbaijan and Turkey, which contains very important provisions on reducing both quotas and duties between the two countries on 15 commodity groups, Kula stressed the importance of this document for the development of relations between entrepreneurs of both countries.

The co-chairs of the Turkish Chamber of Commerce and Industry and TOBB, Vice-President of the Azerbaijani National Confederation of Entrepreneurs (Employers), President of Cahan Holding Vugar Abbasov and Member of the Board of TOBB, Chairman of the Board of Terra Ilac Ve Kimya San. Tic. A.S. Ozturk Oran participated in the videoconference on June 18 to prepare for the first full meeting of the board of the Turkish Chamber of Commerce and Industry.

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