Türkiye and Azerbaijan sign major 110-point economic cooperation action plan

Türkiye and Azerbaijan have solidified their economic partnership with a new 110-point action plan signed during the 12th Joint Economic Commission (JEC) meeting in Baku. The protocol, inked by Turkish Vice President Cevdet Yılmaz and Azerbaijani Prime Minister Ali Asadov, aims to translate their strategic alliance into concrete projects across energy, trade, investments, and tourism.

Building on a High Success Rate from Previous Plan

Yılmaz highlighted the effectiveness of the existing framework, noting a 78% completion rate for the previous action plan. The new roadmap includes ambitious steps such as exploring a Free Trade Agreement, establishing joint industrial training centers, and deepening cooperation in oil, natural gas, and renewable energy projects. A key focus is enabling joint production and investment in third countries.

Ambitious Trade Targets and Energy Security Vision

Bilateral trade volume hit a record $8 billion last year, with a medium-term target of $15 billion. Yılmaz emphasized that mutual investments total nearly $40 billion when accounting for flows through third countries. He framed energy cooperation as a strategic imperative: "We should not be mere 'transit countries'... we should be strategic centers where energy is managed and supply security is ensured." This includes advancing the Nakhchivan energy corridor and the Middle Corridor transit route.