BAKU, Azerbaijan, December 21. Speaking at the Azerbaijani-Turkish investment forum, Azerbaijani Economy Minister Mikayil Jabbarov named four areas of cooperation that have great prospects in the development of ties with Türkiye, Trend reports.
"Our balance of payments is in surplus. We have accumulated large foreign currency reserves. That is, we have capital for new projects, and we can create JVs with Turkish partners, as well as carry out other forms of cooperation for the economic development of both states," he noted.
According to him, the tariff and fiscal policy in Azerbaijan contributes to this.
Mentioning that Azerbaijan has large-scale energy projects, including with Turkish companies, the minister emphasized that the main goal of the government at this stage is to diversify the economy.
"In this regard, the technology sector, transportation sector and development of economic zones are important. For example, Azerbaijan is interested in the development of Alat FEZ, because it has a favorable geographical location and is of interest to companies of the Russian Federation, Central Asian countries and may be of interest to Turkish companies. If this corresponds to your medium- and long-term plans, then pay attention to our industrial parks and other economic zones. They have tax and customs privileges. We have the necessary infrastructure," the minister said, addressing the representatives of Turkish business circles.
He emphasized that Azerbaijan's geographical location allows transportation of cargoes along North-South and West-East corridors, and that interconnectors through Türkiye with access to the open sea are also important for their large-scale development.
"There are a number of attractive investment opportunities in transportation projects, and we recommend evaluating them," Jabbarov said.
He also mentioned that Türkiye has rich experience in the field of construction, and this is very important taking into account the planned work in Azerbaijan's liberated territories, where Azerbaijan's main capital investments are going.
"We offer the format of public-private partnership for investment in the development of Karabakh and East Zangezur," the minister added.
According to him, Azerbaijan has an attractive business environment and the economy is growing after the COVID-19 pandemic.
"We create an average of 70,000 jobs annually. Moreover, this statistic is only for the private sector. This figure means that the number of people entering the labor market exceeds the number of retirees. This is a positive sign. An important area is the transfer of technologies, know-how, and there are great opportunities here," the minister said.
He wished success to the forum and emphasized that any questions of businessmen can be solved by AZPROMO organization.
The Azerbaijan-Türkiye Investment Forum started in Baku today.
The forum explores opportunities for expanding Azerbaijani-Turkish cooperation in various fields, and investment agreements and cooperation agreements will be signed. More than 600 representatives from government institutions and the private sector from both countries are participating in the event.
The forum will include panel sessions covering investment, trade, agriculture, defense industry, green energy, and health tourism sectors.
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