ECONOMY
BAKU HOSTS AZERBAIJAN-TURKEY BUSINESS FORUM
Baku, July 29 (AZERTAC). An Azerbaijan-Turkey business forum has been held today here with participation of Azerbaijan`s Economic Development Minister Shahin Mustafayev and Turkish Minister of State Responsible for Foreign Trade Zafer Caglayan.
Mustafayev said the visit of the Turkish delegation, including officials and more than 100 businessmen, would contribute to developing multi-faceted cooperation between the two countries.
Mustafayev praised the Azerbaijan-Turkey relationship, saying the two countries have signed 23 documents on economic cooperation.
Touching upon the bilateral energy cooperation the minister underlined the importance of Baku-Tbilisi-Ceyhan oil and Baku-Tbilisi-Erzurum gas pipelines. He added “these pipelines play an important role in energy security of both our countries and Europe”.
Mustafayev noted the two countries had transit potential, as well. Baku- Tbilisi-Kars railway would link Turkey to Azerbaijan and Europe to Asia, he added.
The minister pointed out more than thousand Turkish companies were operating in various spheres of Azerbaijan`s economy.
Mustafayev said Azerbaijan was attractive to foreign investors due to the political stability and favorable business climate in the country. He underlined that Azerbaijan`s economy constitutes 75 percent of the economy of the South Caucasus region.
He also praised Turkey`s support for Nakhchivan which is under blockade by Armenia.
Zafer Caglayan, in turn, said Azerbaijan and Turkey had great potential to develop the economic cooperation even more. He noted the two countries could increase the volume of trade turnover to $5 billion.
He pointed out Azerbaijani businessmen invested over $3 billion in Turkey. But this figure is expected to be increased, he added. Caglayan also said Turkish businessmen poured more than $6 billion into Azerbaijani economy.
The Turkish minister also hailed the meetings he had in Baku during the visit.
As part of the business forum the Azerbaijani and Turkish businessmen held bilateral meetings.
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