BAKU, Azerbaijan, Dec. 10
Trend:
The economic relations between Azerbaijan and Turkey cover a system of relations based on strategic partnership, Trend reports with reference to the comments of the analyst of the Azerbaijani Center for Analysis of Economic Reforms and Communication Amina Bayramova.
“The strategic partnership between the two countries is based on the motto - "One nation, two states", emphasized by Azerbaijani great leader Heydar Aliyev and the principle of historical and cultural brotherhood,” Bayramova said.
"Although our economic relations with the Republic of Turkey have deep historical roots, the expansion of these relations accounted for the period after our country gained independence," Bayramova said.
“Turkey, being an important trade partner of Azerbaijan, ranked second in Azerbaijan's foreign trade turnover and export since 2015 while in import operations since 2013,” the analyst said.
"The share of Turkey in import of goods to Azerbaijan in 2008-2019 averaged 13.5 percent, ranging from 11.3 percent to 15.8 percent,” the analyst added. “Turkey's share in import to Azerbaijan amounted to 12 percent in 2019. Import of goods from Turkey in 2019 amounted to $1.6 billion."
A big volume (15 percent) in the categories of goods which are imported from Turkey accounted for machines and mechanical tools worth $251 million in 2019.
Iron and steel worth $120 million, vehicles, except for railways and trams, worth $118 million, electrical equipment - $116 million were imported.
The trade turnover between Turkey and Azerbaijan increased by $87.3 million in October 2020 compared to October 2019, amounting to $264.4 million.
The trade turnover between Turkey and Azerbaijan increased by $201.6 million from January through October 2020 compared to the same period of last year, amounting to $1.8 billion.
----
Follow the author on Twitter: @Fidan_Babaeva