TODAY.AZ / Business

Turkish businessmen invest billions of dollars in Azerbaijan

26 April 2017 [18:00] - TODAY.AZ

By Azernews


By Amina Nazarli

Turkey, which has always taken leading positions among the foreign trade partners of Azerbaijan, invests in various spheres of the country’s economy.

The investments of Turkish businessmen in Azerbaijan exceeded $9 billion, Turkish Ambassador to Azerbaijan Erkan Ozoral said in his congratulatory message addressed to businessmen in connection with the Day of Entrepreneurs.

The ambassador noted that the level of Azerbaijan's investments in Turkey is expected to hit $17-20 billion as a result of SOCAR's activity.

"Businessmen and business associations thanks to the strong support they receive at the state level, have accelerated the strengthening of ties in the economic sphere through forming successful relations," the ambassador said.

Currently, about 2,600 Turkish companies operate in Azerbaijan. Turkish companies operate almost in all spheres of the economy: in the telecommunications, banking, insurance, transportation, food, textile sectors and in the field of construction equipment and furniture manufacturing

Trade turnover between Azerbaijan and Turkey amounted to $1.67 billion in January-September 2016, according to the State Customs Committee of Azerbaijan. The countries plan to bring the volume of trade turnover to the level of $15 billion in the coming years.

Azerbaijan invested $7.9 billion in the Turkish economy so far.

URL: http://www.today.az/news/business/160580.html

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