BAKU, Azerbaijan, June 1
Trend:
Number of companies with Azerbaijani capital registered in Turkey has grown from January through April 2021, the country’s Union of Chambers and Commodity Exchanges (TOBB) told Trend on June 1.
According to TOBB, during the reporting period, 90 Azerbaijani companies have been registered in Turkey, which is by 48 companies more than in the same period of 2020.
The total capital of the companies amounted to over 21.2 million liras ($2.5 million), as compared to over 5.2 million liras ($610,000) in 4M2020.
In the first four months of 2021, most of the Azerbaijani companies were registered in Istanbul (81 companies) with a total capital of slightly over 19.3 million liras ($2.2 million).
Six of the companies were industrial companies, three – construction companies, 37 were engaged in wholesale and retail trade, 10 in transport logistics, 1 in mining, 1 in agriculture, while six companies were operating in the sphere of tourism, and five in real estate.
"The remaining companies with Azerbaijani capital operate in other sectors of economy," TOBB said.
The total capital of 37 companies operating in the wholesale and retail trade registered during the reporting period surpassed 7.8 million liras ($920,000), according to TOBB.
In 2020, 148 companies with Azerbaijani capital were registered in Turkey. Of these, 126 companies with a total capital of more than 25.4 million liras ($2.9 million) were registered in Istanbul.
Some 184 companies with Azerbaijani capital were registered in Turkey in 2019, which was one company more compared to the previous year.
(1 USD = 8.5143 TL on June 1)