TODAY.AZ / Business

Azerbaijan, Turkey eye co-op to rebuild Karabakh

18 January 2022 [10:50] - TODAY.AZ

By Azernews

By Ayya Lmahamad

Azerbaijan and Turkey have discussed the opportunities for cooperation in the reconstruction projects in Karabakh.

The discussion took place during the meeting between Azerbaijan's Economy Ministry and the Union of Chambers of Turkish Engineers and Architects (TMMOB).

During the meeting, Deputy Economy Minister Elnur Aliyev briefed on the measures to support and develop the economy and stimulate entrepreneurship in Azerbaijan.

Touching upon the reconstruction carried out in Azerbaijan's liberated lands, the deputy minister stressed the active participation of Turkish companies in the projects implemented there.

In turn, TMMOB Chairman Mujahit Demirtas noted that the active participation of Turkish companies in architectural and urban planning projects will contribute to the creation of new businesses and jobs.

Azerbaijan and Turkey cooperate in various fields of economy and have jointly completed giant energy and infrastructure projects such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Kars, and TANAP.

On June 15, Azerbaijan and Turkey signed the Shusha Declaration on Allied Relations, which focuses on defence cooperation, promoting regional stability and prosperity, and establishing new transportation routes.

In the first ten months of 2021, the trade turnover between Azerbaijan and Turkey amounted to $3.4 billion. The trade turnover between the two countries amounted to $4.1 billion in 2020.

The two countries set up a goal to bring the mutual trade turnover to $15 billion in 2023. It should be noted that so far, Turkey is Azerbaijan’s second-largest investor followed by the UK.

Additionally, Turkey was one of the first countries that expressed its interest and readiness to participate in the restoration of Azerbaijan’s liberated territories.


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