ECONOMY
OVER 900 MILLION DOLLARS HAVE BEEN INVESTED BY TURKISH ENTREPRENEURS IN ECONOMY OF AZERBAIJAN
Speakers pointed out that after Azerbaijan gained independence, Turkish companies, the number of which exceeds 800 in Azerbaijan, have invested over 900 million dollars in economy of the country. Mainly, they invested in oil sector. Today, 17 Turkish companies are implementing projects in Azerbaijan; cost of each of them is amounted at over 1 million dollars. Besides business people of Turkey are taking an active part in privatization process. So, shares of 18 enterprises have been purchased by them for recent time.
Some 88 protocols and agreement, immediately dealing with economic relations have been signed between the two countries since 1992. Last year, goods turnover between Azerbaijan and Turkey came to 263 million dollars and to 151 million dollars - for 7 months of 2003. The main share of Azerbaijani goods export to that fraternal republic falls to oil and oil products, raw cotton, agricultural output. Machine building production, textile, electric power are supplied to Azerbaijan from Turkey.
However, side by side with positive tendencies in solution of the issues related entrepreneurs of the two countries - decrease of visa price down to 10 dollars for citizens of Turkey, decrease of taxes for Turkish truck crossing the territory of Azerbaijan - there are still a number of issues causing concern among business people of the two countries.