BAKU, Azerbaijan, Dec.10
By Fidan Babayeva - Trend:
Turkey is the largest investor in Azerbaijan's non-oil sector, Analyst of the Center for Analysis of Economic Reforms and Communications (CAERC) Amina Bayramova said, Trend reports citing the CAERC.
“Azerbaijani companies create capital inflows to Turkey, mainly in the energy and chemical sectors. From 2002 to 2019, investments by Turkey in Azerbaijan amounted to $11 billion, and investments by Azerbaijan in Turkey - $19.5 billion,” the analyst noted.
According to the data, in terms of the volume of foreign direct investment (FDI) attracted to the Azerbaijani economy in the first half of 2020, Turkey ranks second after the UK with an investment volume of $259 million and a share of 12.3 percent.
During the same period, Turkey ranked 8th among Azerbaijan's investments with $39.2 million in investments and 6 percent of foreign direct investment.
In October 2020, the trade turnover between Turkey and Azerbaijan increased by $87.2 million compared to the same months of 2019, amounting to $264.4 million.
From January through October 2020, the trade turnover between Turkey and Azerbaijan increased by $201.5 million compared to the same period of 2019, amounting to $1.81 billion.