BAKU, Azerbaijan, December 21. Türkiye expects the implementation of the Kars-Nakhchivan railroad construction project within the next 5 years, Turkish Deputy Trade Minister Ozgur Volkan Agar said, Trend reports.
He spoke during a panel discussion at the Azerbaijani-Turkish Investment Forum.
Agar said the preferential trade agreement signed on February 25, 2020, is a strategic decision to deepen economic and trade relations between the two friendly nations.
"This important step not only contributes to strengthening mutually beneficial ties, but also sets the stage for future expansion of cooperation. The agreement provides mutual benefits for trade, creating a favorable environment for both sides. Increasing bilateral trade and developing close economic partnerships are natural outcomes of this agreement, contributing to the overall prosperity of both countries," he said.
Moreover, the deputy minister noted that without stopping at what has been achieved, an additional protocol complementing the 2020 agreement was signed between Azerbaijan and Türkiye in April 2023.
"This protocol expands the list of products covered by benefits, which leads to additional benefits for trade. Both sides now commit to providing mutually preferential tariffs and customs duties for new categories of products, including industrial and agricultural goods," he emphasized.
"This step is aimed at strengthening partnership and maintaining long-term mutually beneficial cooperation. Both sides' plans aim to achieve a total trade volume of $15 billion, which is a vivid example of the pursuit of economic growth and development. Azerbaijan and Türkiye continue their close cooperation with the business communities of both countries, demonstrating their determination to ensure mutual benefits and strengthening of common interests in the field of trade," Agar added.
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