Trade turnover between Azerbaijan and Turkey has increased tenfold over the last ten years, and the two countries intend to increase it up to $10 billion within the next five years, the Aksam newspaper quotes Turkish Prime Minister Recep Tayyip Erdogan as saying on Tuesday.
"By late this year, we intend to increase trade turnover up to $4 billion. Our goal is to bring trade turnover to $10 billion within the next five years," Erdogan said.
Turkish Prime Minister has today arrived in Azerbaijan to attend a conference of the Economic Cooperation Organization (ECO).
He said the main topic during the visit will be TANAP project. The parties will also discuss other energy projects.
The TANAP project envisages construction of the pipeline from the eastern border of Turkey to the country's western border to supply gas from the Azerbaijani Shah Deniz gas field to Europe through Turkey.
On June, 26 Azerbaijan and Turkey signed an intergovernmental agreement on TANAP's implementation.
The initial capacity of the pipeline is expected to reach 16 billion cubic meters a year. About six billion cubic meters will be delivered to Turkey and the rest to Europe.