BAKU, Azerbaijan, December 23. The 2nd Azerbaijan-Türkiye Investment Forum was held in Baku, Trend reports.
The event was organised with the support of the Ministry of Economy of Azerbaijan and the Ministry of Trade of Türkiye, as well as jointly by the Export and Investment Promotion Agency (AZPROMO) and the Public Union of Turkish-Azerbaijani Businessmen and Industrialists (TÜIB).
The event was attended by officials from both countries, as well as representatives of public and private institutions, business associations, and chambers of commerce.
The forum also featured panel discussions on the development of interregional trade, energy transition, sustainable development and infrastructure projects, the expansion of bilateral business ties, and the Fourth Industrial Revolution.
Azerbaijan’s Prime Minister Ali Asadov opened the forum, highlighting it as a key platform for fostering dialogue between the government and business sectors, discussing new projects, and enhancing business cooperation.
"I hope that the discussions to be held within the framework of the forum will pave the way for concrete investment initiatives and long-term cooperation projects.
Yesterday, my esteemed brother Cevdet Yilmaz and I very successfully held the 12th meeting of the joint intergovernmental commission. We discussed the current issues on the agenda of our trade and economic relations, and reviewed the prospects for cooperation in areas of mutual priority.
Today, we have come together to meet with representatives of the business circles of both countries. We hope that today's meeting will be useful for our business communities and will give impetus to the implementation of new concrete joint investment initiatives by our countries," the prime minister emphasized.
Türkiye’s Vice President Cevdet Yilmaz emphasized the growth of bilateral trade, noting that last year Azerbaijan-Türkiye trade reached approximately $8 billion. "This is a very significant indicator," the official pointed out.
He noted that there is a possibility of a certain decrease this year, which is mainly due to changes in oil prices and other temporary factors.
"However, we believe that this decline will be temporary. Our goal is to reach the $15 billion trade target set by our president. We sincerely believe that we will achieve this together with our business community.
The results achieved in the field of investments are satisfactory. Today, direct investments from Türkiye to Azerbaijan have approached $18 billion, and investments from Azerbaijan to Türkiye have approached $21 billion. In total, an investment volume of $39 billion has been formed, which is very significant.
We want this volume to increase further. Such forums serve precisely this purpose. Because there is a direct connection between investments and trade. The rise in mutual investments will make our trade relations more solid and stable.
Taking this opportunity, we invite Turkish investors to Azerbaijan, and Azerbaijani investors to Türkiye. We recommend implementing joint projects not only in mutual, but also in third countries," the vice president emphasized.
Deputy Minister of Economy of Azerbaijan Samed Bashirli underscored the strategic advantages provided by Azerbaijan’s growing transport and transit capabilities, regional and global projects that we have initiated and participated in, including the logistics potential provided by the Middle Corridor and other projects, open up additional opportunities for our mutually beneficial partnership with Türkiye. Strengthening the Middle Corridor with digital solutions and trade facilitation measures expands transit opportunities for both our countries and the region.
He also emphasized that the Baku International Sea Trade Port, whose capacity will reach 25 million tons per year in the coming years, nine international airports, the largest cargo airline in the region, and other factors have turned Azerbaijan into an international transport hub.
"In the future, the Zangezur corridor will contribute to the expansion of transit opportunities for international transportation," he said.
Turkey’s Minister of Trade, Omer Bolat, noted that bilateral trade has grown from $2.4 billion to $8 billion since the early 2000s.
“The remarkable level of relations between Türkiye and Azerbaijan since Azerbaijan regained its independence, along with the country’s impressive achievements, fills us all with pride and satisfaction.
Economic ties between Türkiye and Azerbaijan have advanced significantly, particularly in the energy sector. Strategic projects such as the Baku-Tbilisi-Ceyhan oil pipeline, the Baku-Tbilisi-Erzurum gas pipeline, TANAP, and TAP have been successfully realized. Meanwhile, the Baku-Tbilisi-Kars railway has provided a major infrastructure boost to our bilateral cooperation. Rapid growth is also evident in the trade sector,” the minister emphasized.
Bolat highlighted that since the late 2000s, trade turnover between Türkiye and Azerbaijan has surged from $2.4 billion to $8 billion, more than tripling over the period.
“We are pleased that Türkiye has risen to second place in Azerbaijan’s exports and ranks third in Azerbaijan’s imports.
Our aim should be to achieve first place in mutual trade. Azerbaijan occupies a strategically vital junction, providing access to the countries of the Commonwealth of Independent States and the wider Turkic world. Through energy pipelines and the soon-to-be-completed Zangezur Corridor, Türkiye will gain faster access to Central Asia and the Far East. The Central Corridor, running through both Azerbaijan and Türkiye, will accelerate global trade and stimulate production, investment, and commerce across the region,” he added.
Deputy Minister Mustafa Tuzcu highlighted the potential of the Organisation of Turkic States (OTS) and Asia-related trade to exceed $100 billion in total in a very short time. "Azerbaijan has a unique path and position in this economic architecture," he said.
He also articulated the prospects of emergent avenues spanning from the Caspian Sea to China.
"We can resolve difficulties and conjunctural structural uncertainties experienced on the main transport routes in the Middle Corridor, which runs through the Caspian Sea to China, only with a secure transit from the nearby geography.
The Middle Corridor is not just a political choice but also 2,000 km more efficient than the northern corridor. At the same time, it significantly reduces the time of transportation between China and Europe. In this regard, it is of critical importance in terms of both political and economic efficiency and productivity," the deputy minister explained.
Additionally, Tuzcu emphasized the criticality of optimizing the operational efficacy of infrastructure networks like the Baku-Tbilisi-Kars railway.
"Improving freight distribution requires work on both the Middle Corridor and rail lines. Traveling by this route will make it possible to reach Baku from the Caspian Sea and then on to Europe via Türkiye.
Moreover, the Zangezur corridor also increases the effectiveness of the Middle Corridor line not only with existing connections but also with stronger and complementary features. The Zangezur corridor, which is a natural and complementary extension of the Middle Corridor, is of great importance for the entire region. This corridor is of strategic importance not only between Azerbaijan and Türkiye but also between Asia and Europe," the official added.
Deputy Minister of Digital Development and Transport Rahman Hummetov noted that the Digital Logistics Platform, under development for two years, will be operational by the end of next year.
He recalled that the platform had been prepared for two years.
"Today, the platform itself is almost ready. From the beginning of next year, we will gradually launch the platform until the end of the year.
This platform connects more than 30 state institutions, covering both import and export regimes, and well as obtaining all types of licenses and certificates. Today, we have completed or are about to complete integrations with more than 13 state institutions," the official underlined.
The first Azerbaijan-Türkiye Investment Forum was held in December 2023.
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The 2nd Azerbaijan-Türkiye Investment Forum is being held in Baku, Trend reports.
The event is organized with the support of the Ministry of Economy of Azerbaijan and the Ministry of Trade of Türkiye, as well as jointly by the Export and Investment Promotion Agency (AZPROMO) and the Public Union of Turkish-Azerbaijani Businessmen and Industrialists (TÜIB).
The event is expected to be attended by officials from both countries, as well as representatives of public and private institutions, business associations, and chambers of commerce.
The forum will also feature panel discussions on the development of interregional trade, energy transition, sustainable development and infrastructure projects, the expansion of bilateral business ties, and the Fourth Industrial Revolution.
The first Azerbaijan-Türkiye Investment Forum was held in December 2023.
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