Azerbaijan to create joint investment fund with Turkey - minister
BAKU, Azerbaijan, Apr.2
By Zeyni Jafarov - Trend:
Azerbaijan and Turkey are intensively working to create a joint mutual investment fund, the Azerbaijani Minister of Economy Mikayil Jabbarov said, Trend reports on Apr.2.
Jabbarov made the statement during the discussions on Azerbaijani-Turkish economic relations.
According to him, during the work of the Azerbaijani-Turkish intergovernmental commission on economic cooperation, an agreement has been reached on creating a joint investment fund.
"At present, negotiations on the creation of an investment fund are under way between the Azerbaijan Investment Company OJSC, established by the President of Azerbaijan Ilham Aliyev, and the National Welfare Fund of Turkey," the minister also said. “The volume of Azerbaijan's investments in fraternal Turkey reaches $19 billion, and Turkey's investments in the Azerbaijani economy - $13 billion.”
Besides, according to the minister, Turkey is the leader in investments in the non-oil sector of the Azerbaijani economy.
"Currently, there are about 4,200 companies with Turkish capital operating in Azerbaijan, and the work of Turkish companies on 300 existing projects is estimated at $16.3 billion," concluded the minister.
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