BAKU, Azerbaijan, February 26. An agreement has been reached to expand the scope of the Preferential Trade Agreement between Azerbaijan and Türkiye, the Minister of Economy Mikayil Jabbarov wrote on his X page, Trend reports.
"It was a pleasure to meet with Ömer Bolat, Minister of Trade of Türkiye, within the framework of the Georgia-Azerbaijan-Türkiye Business Forum.
We discussed deepening our economic partnership with the friendly country, further increasing trade turnover and mutual investment, strengthening the legal framework to facilitate business relations, and expanding cooperation in priority areas, including energy, industrial production, transport, logistics, tourism, and other sectors. We also agreed to expand the scope of the Preferential Trade Agreement signed between Azerbaijan and Türkiye," he added.
The Preferential Trade Agreement (PTA) was signed on February 25, 2020, between the Government of the Republic of Azerbaijan and the Government of the Republic of Türkiye to promote preferential trade.
The agreement, which entered into force on March 1, 2021, allows for the export of several goods to Türkiye on preferential terms without the payment of import duties. A protocol amending the agreement entered into force in Türkiye on March 1, 2024.
Speaking to Trend in Baku during the Azerbaijan-Türkiye Investment Forum, Ömer Bolat stated that technical groups from both countries are conducting impact analyses and assessment work regarding a free trade agreement.
“The official position is that when the time comes, it will also be possible to sign a free trade agreement between Türkiye and Azerbaijan,” he emphasized.
Data obtained from the State Customs Committee indicates that trade turnover between Azerbaijan and Türkiye amounted to $431.7 million in January 2026. This figure represents a decrease of $51.6 million, or 10.7%, compared with the same period in 2025.
In January 2026, Azerbaijan exported goods worth $268.2 million to Türkiye, down $39.9 million, or 13%, year-on-year.
Of the total exports to Türkiye over the reporting month, $19.5 million accounted for crude oil and crude petroleum products obtained from bituminous minerals. Export volume for this category reached 41,800 tons. Compared with January 2025, Azerbaijan's exports of these products to Türkiye increased by $15.3 million, or 4.6 times in value, and by 33,100 tons, or 4.8 times in volume.
In addition, non-oil exports to Türkiye totaled $31.4 million during the reporting month, which is $5.7 million, or 15.3%, less than in January 2025. Non-oil exports to Türkiye accounted for 11.72% of Azerbaijan’s total non-oil exports. As a result, Türkiye ranked 4th among the destinations for Azerbaijan’s non-oil exports during the reporting period.
In the same timeframe, Türkiye's exports to Azerbaijan totaled
$163.6 million, reflecting a decline of $11.6 million, or 6.6%, in
comparison to the corresponding period of the previous year.
In summary, the trade volume between the two nations neared $6
billion in the previous year.
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