Azerbaijan to host Turkic Business Forum

By Azernews

By Ayya Lmahamad

The 10th meeting of economy ministers of the Cooperation Council of Turkic Speaking States will be held in Baku on September 10, Azerbaijan's Economy Ministry has reported.

The meeting will discuss opportunities for expanding economic cooperation between the Turkic-speaking countries. On the sidelines of the meeting, the awarding of the 2nd Turkic Council Business Prize will take place.

Moreover, a business forum will be held dedicated to the role of Turkic business organizations in the restoration of Azerbaijan's liberated Karabakh region.

Furthermore, TurkicWorld reported that Turkic Council Secretary-General Baghdad Amreyev, Kazakh Trade and Integration Minister Bakhyt Sultanov, Kyrgyz Economy and Finance Minister Akylbek Zhaparov, Uzbek Investment and Foreign Trade Deputy Minister Badryddin Abidov, Hungarian Foreign Affairs and Foreign Trade Minister Peter Siyarto and Turkish Trade Minister Mehmet Mush will attend the forum.

Established in 2009, the Turkic Council is an intergovernmental organization of Turkic-speaking countries.  The founding member states of the organization are Azerbaijan, Kazakhstan, Kyrgyzstan and Turkey. During the seventh summit of the Turkic Council held in Baku in October 2019, Uzbekistan joined the organization as a full member, while during the sixth summit held in Cholpon-Ata (Kyrgyzstan) in September 2018, Hungary received observer status at the organization.

Azerbaijan invested $18.3 billion in the economy of Turkic Council member states between 1995 and 2020. Meanwhile, Turkic Council member states invested $13 billion in the Azerbaijani economy during the reported period. Azerbaijan's trade turnover with member states of the Cooperation Council of Turkic Speaking States increased by 3.5 times in 2020 and reached $4.4 billion. The share of the council member states in foreign trade of Azerbaijan made up 17.9 percent.