Over 170 companies with Azerbaijani capital registered in Turkey in 11 months of 2019

Over 170 companies with Azerbaijani capital registered in Turkey in 11 months of 2019

BAKU, Azerbaijan, Dec. 20

By Rufiz Hafizoglu - Trend:

From January through November of 2019, 171 companies with Azerbaijani capital were registered in Turkey, which is six companies more than in the same period last year, Trend reports referring to the Union of Chambers and Commodity Exchanges of Turkey (TOBB).

The total capital of Azerbaijani companies registered in Turkey in the first 11 months of 2019 exceeded 38.1 million Turkish liras ($6.4 million), while in the same period of 2018, this figure amounted to over 53.1 million Turkish liras ($8.9 million).

In the first 11 months of 2019, most of the Azerbaijani companies in Turkey were registered in Istanbul (143 companies), with a total capital of over 28.1 million Turkish liras ($4.7 million).

During this period, nine companies with Azerbaijani capital were registered in Turkey's Antalya province. The total capital of Azerbaijani companies registered in 11 months of 2019 in Antalya province amounted to over 1.8 million liras ($316,211).

From January through November 2019, four mining companies, 16 industrial, 14 construction, 80 wholesale and retail trade companies, 11 tourism and two finance-insurance companies with Azerbaijani capital were registered in Turkey.

The remaining 44 companies with Azerbaijani capital are involved in other sectors of the economy.

According to the TOBB, the total capital of 80 wholesale and retail companies registered during the reported period amounted to 11.719 million liras ($1.9 million).

(1 USD = 5.9359 TRY on Dec. 20)

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Follow the author on Twitter: @rhafizoglu

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