Azerbaijan, Baku, July 29 /Trend, E.Ismayilov/
The total investments between
Azerbaijan and Turkey will reach $15 billion after SOCAR (State Oil Company of Azerbaijan) investment in the construction of a refinery in the Petkim petrochemical complex in Turkey, State Minister for Foreign Investment of Turkey Zafar Chaglayan said in Baku on July 29.
Currently, the total investment between countries is $10 billion.
According to the minister, the first meeting of the working group will be held in Turkey in November-December this year in order to identify the interests and solve the existing problems that hamper trade and expand economic ties between the countries.
A business forum is also planned to be conducted in the Nakhichivan Autonomous Republic (NAR) in November to enhance relations with Turkey, said Chaglayan.
One of the major projects between Turkey and Azerbaijan is the construction of a new gas pipeline of 200 kilometers from Igdir to Nakhchivan. Also building the railway, which will connect the NAR with Turkey, is urgent. Another step towards the development of economic relations between Turkey and the NAR is an increase in the number of flights between the sides, said the State Minister of Turkey.
The Turkish businessmen display a great interest in participating in information and communication technologies, tourism, banking sector of Azerbaijan. In particular, Turkish Is Bankasi displays a strong interest in participating in the banking market of Azerbaijan. The bank previously appealed to the Central Bank of Azerbaijan for this purpose. The minister expressed confidence that the Turkish bank will open a representative office in Azerbaijan soon.