Azerbaijani and Turkish business potentials discussed in London
Baku, May 4 (AZERTAC). The annual Business Forum between Azerbaijan and Turkey was organized by The European Azerbaijan Society (TEAS) in London.
Entitled Azerbaijan and Turkey - Diverse Investment Opportunities, this event focused on wide range of sectors, including energy; project finance and investment banking; development of the ICT industry; agriculture and food-processing.
Tale Heydarov, Chairman and Founder, TEAS, explained: “This year’s Business Forum is rather different to that in 2011, as it focuses on both Azerbaijan and Turkey. We believe that many of the economic projects in the region also automatically combine these two countries. This is not solely because Azerbaijan and Turkey have cultural ties and are brother countries, but because of the geographical situation. Azerbaijan has one of the fastest-growing economies in the world, mainly due to its oil and gas resources, most of which will now pass through Turkey to the EU markets.
H.E. Peter Bateman, recently appointed UK Ambassador to Azerbaijan, acknowledged: “Azerbaijan is secular, tolerant and liberal, and it has experienced the highest GDP growth in the world in 2005 at 35 per cent.
It is now time for this wealth to benefit the rural areas of Azerbaijan but, as the country is destined for 30-40 years of considerable oil revenues, this will happen. Altogether, more than 150 UK companies are present in Azerbaijan, not just in hydrocarbons, but in the retail and financial services sectors, amongst others. The Azerbaijani middle-class is in its ascendance, and there is also a huge construction boom taking place across Baku.”
Mark Field, MP for the Cities of London and Westminster and Chairman of the Azerbaijan All-Party Parliamentary Group (APPG) commented: “There are considerable links between Azerbaijan and Turkey, and these are going from strength to strength. I have been to Baku and travelled across Azerbaijan, noting the considerable entrepreneurial flair of the Azerbaijani people. At a time when the UK economy is slipping back to recession, Azerbaijan is becoming an economic force to be reckoned with. In addition to the hydrocarbon industry, there are a great many opportunities for British companies in the financial services sector. The UK government has always supported Turkish accession to the EU, and as UK-Azerbaijani relations strengthen, this represents a triangle of prosperity.”
Most of the major stakeholders in the proposed Southern Corridor were present during the energy session, highlighting the pivotal future role of Azerbaijan.
Other news in this section
