BAKU, Azerbaijan, December 23. A free trade
agreement between Türkiye and Azerbaijan may be signed, Turkish
Trade Minister Ömer Bolat told reporters at the 2nd
Azerbaijan-Türkiye Investment Forum in Baku, Trend reports.
''The preferential trade agreement that came into force in 2021
and the additional protocol that will take effect in 2024 have had
a positive impact on trade. Technical teams from both countries are
currently analyzing and assessing the impact of the free trade
agreement.
The official position is that, when the time comes, it will be
possible to sign a free trade agreement between Türkiye and
Azerbaijan as well," Ömer Bolat said
He stressed that economic cooperation between Türkiye and
Azerbaijan continues at a high level, as do political and
diplomatic relations. The parties are actively working to deepen
economic ties and bring mutual trade turnover to $15 billion.
Ömer Bolat stated that both countries are already acting from a
common position in political, social, and diplomatic terms, and
that the alliance is yielding concrete results in the economic
sphere as well:
Guidelines are also being developed for entrepreneurs,
industrialists, importers, and exporters, who are the real
implementers of economic cooperation.
According to official data, there are currently about 7,000
Turkish companies operating in Azerbaijan, and the total investment
of these companies amounts to $18 billion. At the same time, about
3,000 Azerbaijani companies operate in Türkiye, and their
investments amount to $21 billion. Both sides are interested in
increasing mutual investments, and any problems that arise are
resolved promptly.
