On December 23, the 2nd Azerbaijan–Türkiye Investment Forum was held in Baku.
The opening ceremony was attended by the Prime Minister of the Republic of Azerbaijan, Ali Asadov, and the Vice President of the Republic of Türkiye, Cevdet Yılmaz.
In his remarks at the Forum, A. Asadov described the event as an important platform for establishing open and effective dialogue between government and business circles, discussing new projects, and expanding business ties.
It was noted that the high-level political dialogue and mutual trust between President of Azerbaijan Ilham Aliyev and President of Türkiye Recep Tayyip Erdoğan provide a solid foundation for the sustainable development of bilateral economic cooperation.
It was stated that expanding trade and economic relations is one of the priority areas for both countries.
It was emphasized that investment cooperation is demonstrating positive dynamics. To date, Azerbaijan has invested more than USD 20 billion in the Turkish economy, while Türkiye has invested approximately USD 18 billion in the Azerbaijani economy. More than 4,600 Turkish companies currently operate in Azerbaijan. At the same time, 3,000 Azerbaijani companies are engaged in business across various sectors in Türkiye, contributing to the economic development of the brotherly country.
The Prime Minister stated that private investments are being actively encouraged in order to support measures arising from the 1st State Program on the Great Return in the territories liberated from occupation. Efforts to attract foreign capital continue for the modernization of existing infrastructure and the construction of new infrastructure to make efficient use of the “green” energy potential of the Karabakh and East Zangezur economic regions.
It was noted that Turkish companies have been actively involved in the implementation of projects in the territories liberated from occupation.
It was also underscored that all necessary favorable conditions have been created for doing business in the country’s special economic zones. Particular mention was made of the Alat Free Economic Zone, which offers attractive terms for investors.
It was stated that a number of Turkish companies are already operating in these special economic zones. “We see good prospects for cooperation on investment here. Therefore, we invite Turkish companies to be more active,” A. Asadov added.
It was emphasized that global projects jointly implemented by Azerbaijan and Türkiye play an important role in developing trade relations.
In this context, the strategic significance of the Middle Corridor — not only for the region, but also for expanding global trade and transport links — was highlighted. It was noted that over the past three years, the volume of cargo transportation along the Middle Corridor via Azerbaijan has increased by 90 percent.
It was also emphasized that opening the Zangezur corridor would create new economic and transit opportunities for the states of the region and would increase the capacity of the Middle Corridor.
It was stated that strategic partnership in the energy sector has been further strengthened through large-scale projects. It was emphasized that the Baku–Tbilisi–Ceyhan, Baku–Tbilisi–Erzurum, and TANAP projects have ensured reliable access for Azerbaijan’s energy resources to European markets.
A. Asadov recalled that on December 31 it will mark five years since the start of gas transportation to Europe via the TAP pipeline, which constitutes the final link of the Southern Gas Corridor, and that during this period the number of countries to which Azerbaijan exports gas has reached 14.
It was noted that SOCAR, with nearly USD 19 billion in investments in Türkiye, is the brotherly country’s largest foreign investor. It was stated that within the framework of these investments, a number of strategic projects have been implemented in oil refining, petrochemicals, and natural gas. Plans to expand the company’s activities in Türkiye were also discussed, and it was announced that, within the Forum, a document would be signed regarding the purchase and sale of an 870 MW power plant located in Türkiye.
It was noted that cooperation in industry and technology has risen to a qualitatively new stage, with the expansion of cooperation in the application of modern technologies, the digital economy, artificial intelligence, and innovation.
The defense industry was highlighted in particular. It was noted that Azerbaijan’s defense industry has been developing at a high pace in recent years and that effective cooperation with Türkiye has been established in this field.
Cooperation in industry, science, technology, and innovation within the framework of the Organization of Turkic States was also specifically emphasized.
In addition, the strategic importance of establishing the Turkic Investment Fund was noted in terms of supporting joint investment initiatives within the region and expanding financial instruments.
Confidence was expressed that the Forum would make an important contribution to elevating economic partnership between Azerbaijan and Türkiye to a new stage, increasing mutual investments, and implementing successful joint projects.
It should be noted that the event also featured panel discussions covering Industry 4.0, ICT, agriculture, food security, interregional trade and logistics, finance and insurance, and other areas.
