Azerbaijani-Turkish Investment Forum took place in Baku to mark the 100th anniversary of national leader Heydar Aliyev and the 100th anniversary of the establishment of the Republic of Türkiye.
The Azerbaijani-Turkish Investment Forum was jointly organized by the Ministry of Economy of the Republic of Azerbaijan, the Ministry of Trade of the Republic of Türkiye, the Financial Department of the President of the Republic of Türkiye, the Export and Investment Promotion Agency - AZPROMO and the Public Association of Turkish-Azerbaijani Entrepreneurs and Industrialists (TÜİB). Along with government officials, the event was attended by representatives of companies operating in energy, industry, construction, logistics, food industry, agriculture, finance, tourism, pharmaceuticals, ICT, and other fields of both countries.
Minister of Economy of the Republic of Azerbaijan Mikail Jabbarov, Head of the Financial Department of the President of Turkey Goksel Aşan, and Minister of Trade of the Republic of Türkiye Omer Bolat addressed the forum. It was emphasized that due to the tireless efforts of the heads of our states, personal friendship, and brotherly relations, and also their consistent initiatives, mutual official visits, and meetings, the allied relations have currently reached the highest level. Partnership relations between Türkiye and Azerbaijan are developing and strengthening in all areas. The merits of great leader Heydar Aliyev in strengthening the Azerbaijani-Turkish brotherhood remain unmatched.
The Shusha Declaration signed on 15 June 2021 is also of special significance in terms of the potential of our multi-vector cooperation and coordination of activities on strategic issues.
At the international and regional level, cooperation is being implemented that ensures the interests of our countries. Significant activities are implemented within the framework of the Organization of Turkic States, the Organization of Islamic Cooperation, the Economic Cooperation Organization, and other organizations.
The documents signed between our countries, including agreements on the promotion and mutual protection of investments, and on the elimination of double taxation, have further strengthened our bilateral legal framework. To date, the two countries have held hundreds of business events, business forums, export missions, business meetings, and exhibitions, which have served as an incentive to expand business dialog and implement joint projects.
Effective cooperation in the energy sector and successfully implemented joint initiatives strengthen the positions of our countries in the international arena and play an important role in regional security and energy supply. The forum emphasized the importance of joint strategic projects in the transport sphere, especially the Middle Corridor project and its diversification.
It was noted that the Azerbaijani-Turkish brotherhood is of special importance in the development of economic partnership. Türkiye is Azerbaijan's second most important trade partner. In the first 11 months of 2023, our trade turnover amounted to about 7.2 billion USD. Compared to the same period last year, this indicator increased by 33%. The positive dynamics observed in the area of trade cooperation inspire confidence that we will quickly achieve the goal set by the Heads of our states.
Azerbaijan invested more in Türkiye than any other foreign country. Türkiye also ranked first among the countries investing in the non-oil and gas sector of our country. Encouraging mutual investments and expanding opportunities to support entrepreneurship contribute to the development of economic partnership.
During the event, Azerbaijan's trade representative in Türkiye Tamerlan Tagiyev made a presentation on the business and investment environment of our country.
A document signing ceremony was held during the forum between organizations of Azerbaijan and Türkiye. The Action Plan for 2024 signed between AZPROMO and TUIB envisages increasing trade and investment between our countries, strengthening cooperation between the two countries, supporting mutual investment opportunities, and promoting joint projects in line with sustainable development goals. Under the contract signed between DO-DEM LTD and Multipak Ambalaj company, a factory will be built in Azerbaijan to produce paper-based packaging that does not harm nature and ensures food safety. According to the document signed between Diplomat LTD and Dogru Holding, the company will build a hotel in Azerbaijan.
The Forum's work continued in the format of panel sessions devoted to investment opportunities in Azerbaijan, the role of transport and logistics centers in increasing trade turnover, the agriculture and food industry, "green" energy, the defense industry, and health tourism.
