Azerbaijan boosts trade with Turkey, Russia in Jan-Nov

By Azernews

By Ayya Lmahamad

Azerbaijan increased the trade turnover with Turkey and Russia in January-November 2021, the State Customs Committee has reported.

The trade turnover between Azerbaijan and Turkey has increased by $279.9 million and amounted to $4.1 billion over the said period.

Of the total turnover, exports amounted to 2.5 billion, while imports to $1.6 billion. Thus, Turkey was Azerbaijan's second-largest trade partner in the reported period

It should be noted that the trade turnover between the two countries amounted to $3.9 billion during the corresponding period of 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.  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.

Moreover, during the first 11 months of the year, the trade turnover between Azerbaijan and Russia amounted to $2.6 billion, which is an increase by $238.5 million, compared to the same period last year.

Of the total turnover, exports amounted to $802.2 million, while imports to $1.8 billion. Russia was Azerbaijan's third-largest trade partner during the period of January-November.

The trade turnover between the two countries amounted to $2.4 billion during the first 11 months of 2020.

Azerbaijan and Russia have mutual cooperation in different fields, such as economy, agriculture, customs, communications, high technology, and others. More than 230 intergovernmental and intercompany documents have been signed between the two countries and six "road maps" are being implemented.