The Azerbaijan-Turkey Investment Forum is being held in Baku on the occasion of the 100th anniversary of the national leader Heydar Aliyev and the 100th anniversary of the establishment of the Republic of Turkey.
The Azerbaijan-Turkey Investment Forum is being held with the support of the Ministry of Economy of the Republic of Azerbaijan, the Ministry of Trade of the Republic of Turkey, the Financial Office of the President of the Republic of Turkey, the Export and Investment Promotion Agency - AZPROMO and the Turkish-Azerbaijani Businessmen and Industrialists Public Union (TUIB). In addition to state officials, representatives of companies operating in energy, industry, construction, logistics, food industry, agriculture, finance, tourism, pharmaceutical, ICT and other fields from both countries took part in the event.
Minister of Economy of the Republic of Azerbaijan Mikayil Jabbarov, Head of the Finance Department of the President of Turkey Goksel Ashan and Minister of Trade of the Republic of Turkey Omer Bolat made a speech at the forum.
It was emphasized that thanks to the tireless efforts of our heads of state, personal friendship and fraternal relations, consistent initiatives, mutual official visits and meetings, the alliance relations have reached the highest peak today. Partnership relations between Turkey and Azerbaijan are developing and strengthening in all directions. The great leader Heydar Aliyev's services in strengthening the Azerbaijan-Turkey brotherhood are unparalleled.
The Shusha Declaration, signed on June 15, 2021, is also of special importance in terms of the coordination of our multi-vector cooperation potential and strategic issues.
Cooperation that provides the interests of our countries is carried out at the international and regional level. Activities within the framework of Organization of Turkic States, Organization of Islamic Cooperation, Organization for Economic Cooperation and other organizations are important.
Documents signed between our countries, including agreements on promotion and mutual protection of investments, as well as agreements on the elimination of double taxation, have further strengthened our bilateral legal base. Hundreds of business events, business forums, export missions, business meetings and exhibitions have been held to date between the two countries, which stimulated the expansion of business dialogue and the implementation of joint projects.
Effective cooperation in the field of energy, successfully implemented joint initiatives, besides strengthening the position of our countries in the international arena, play an important role in regional security and energy supply. The importance of joint strategic projects in the transport sector, especially the Middle Corridor and its diversification, was highlighted at the forum.
It was pointed out that Azerbaijan-Turkey brotherhood is of special importance in the development of economic partnership. Turkey is the 2nd main trade partner of Azerbaijan. Our trade turnover amounted to approximately 7.2 billion US dollars in the 11 months of 2023. This indicator has increased by 33% compared to the same period last year. The positive dynamics observed in trade cooperation creates confidence that we will quickly reach the goal set by the heads of state.
Azerbaijan invested the most in Turkey Compared to foreign countries. At the same time, Turkey ranked first among the countries investing in the non-oil and gas sector in our country. Promotion of mutual investments and increasing opportunities in the field of entrepreneurship support promotes economic partnership.
The trade representative of Azerbaijan in Turkey, Tamerlan Tagiyev, made a presentation at the event on the business and investment environment of our country.
A document signing ceremony was held between the institutions of Azerbaijan and Turkey within the framework of the forum. The Action Plan for 2024, signed between AZPROMO and TUIB, envisages increasing the volume of trade and investment between our countries, strengthening cooperation between the two countries and supporting mutual investment opportunities, and promoting joint projects in line with the goals of sustainable development. As per the contract signed between DO-DEM LLC and "Multipak Ambalaj" company, a factory will be built in Azerbaijan for the production of paper-based containers that do not harm nature and are based on food safety. The company will build a hotel in Azerbaijan according to the document signed between "Diplomat LTD" and "Dogru Holding".
The forum continues its work with panel sessions on investment opportunities in Azerbaijan, the role of transport and logistics centers in increasing trade turnover, agriculture and food industry, as well as "green" energy, defense industry and health tourism.
