Azerbaijan, Turkiye eye cooperation opportunities

By Azernews

By Ayya Lmahamad

Azerbaijan and Turkiye have discussed opportunities for cooperation, Azernews reports.

The discussion took place during a meeting between Azerbaijani Small and Medium Business Development Agency board chairman Orkhan Mammadov and Turkiye's Albayrak Holding member of the board of directors Ibrahim Karaca.

During the meeting, the parties exchanged views on the company's activities, which invests in the transport sector of Azerbaijan.

Azerbaijan and Turkiye collaborate in a variety of economic sectors and have completed major energy and infrastructure projects, such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Kars, and TANAP.

In 2021, Azerbaijan and Turkiye signed the Shusha Declaration on Allied Relations, which focuses on defense cooperation, promoting regional stability, and prosperity through establishing new transport routes.

The two countries set up a goal of bringing the mutual trade turnover to $15 billion in 2023. As of 2021, the trade turnover between the two countries amounted to $4.6 billion. So far, Turkiye is Azerbaijan’s second-largest investor followed by the UK.

Additionally, Turkiye was one of the first countries keen on involvement in the restoration of Azerbaijan’s liberated territories.