Türkiye and Azerbaijan target trade expansion at Baku investment forum
Officials from both nations emphasized deepening economic ties at a Baku forum, citing over $38 billion in mutual investments and highlighting strategic transport corridors like Zangezur as keys to future growth.
Senior officials from Türkiye and Azerbaijan underscored their commitment to significantly expanding trade and investment ties during the 2nd Azerbaijan-Türkiye Investment Forum in Baku. The meeting highlighted concrete economic achievements and future strategic projects aimed at deeper integration.
Billions in Mutual Investments and Rising Trade
Azerbaijani Prime Minister Ali Asadov stated that bilateral investment totals approximately $38 billion, with Azerbaijan investing over $20 billion in Türkiye and Turkish investments in Azerbaijan nearing $18 billion. "We are committed to maintaining steady mutual investments," Asadov affirmed. Turkish Trade Minister Omer Bolat noted that bilateral trade volume has surged from $2.6 billion in 2016 to $8 billion currently, with ambitions to raise it further.
Strategic Corridors as Catalysts for Regional Trade
A central theme was the transformative potential of new transport routes. Minister Bolat and business leaders highlighted the Zangezur Corridor and the Middle Corridor as critical for enhancing regional connectivity. Bolat stated these projects would give Türkiye rapid access to Central Asia and accelerate global trade flows. The forum also saw the signing of an agreement for Azerbaijan's SOCAR to acquire a major Turkish power plant, signaling deepening energy sector integration.
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