Azerbaijani minister discloses volume of investments in Turkey

Business Materials 14 December 2021 12:30 (UTC +04:00)
Azerbaijani minister discloses volume of investments in Turkey

BAKU, Azerbaijan, Dec. 14

By Sadraddin Aghjayev - Trend:

Azerbaijan's investments in Turkey exceeded $19 billion, the country’s Minister of Economy Mikayil Jabbarov said on Dec. 14 at the Azerbaijani-Turkish-Georgian business forum in Baku, Trend reports.

According to Jabbarov, a number of agreements on investments in Azerbaijan were signed between Baku and Ankara this year.

The minister also said that the strategic cooperation between Azerbaijan and Georgia has expanded recently, despite the coronavirus pandemic.

"Azerbaijan's investments in Georgia amounted to $3.3 billion. We are interested in more investments in the economies of Georgia, Turkey and our other partners. Besides, Azerbaijani companies in Georgia are large taxpayers, which also contributes to the growth of the economy of this country,” he noted. “The procedure for cargo transportation between our countries has been also simplified. The Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Erzurum pipelines and the BTK railway also testify to the success of our cooperation. In addition, we have great potential in the transport sector, including maritime transport.”

According to him, the liberation of the territories of Azerbaijan [from Armenian occupation in the 2020 second Karabakh war] has formed new realities and created opportunities not only for business, but also for the development of the region as a whole.

"We are implementing large-scale projects in Karabakh based on smart technologies. Our friends help us in their implementation. As of today, we have received 921 requests for participation in restoration work. A large number of Turkish and Georgian companies are working here, and such requests continue to come," added the minister.