Azerbaijani investments to Turkey exceed Turkeys investments in Azerbaijan already 3-fold
Baku, Fineko/abc.az. Azerbaijani Business Association (TAIB) has started its work in Turkey.
At the official opening ceremony Economic Development Minister of Azerbaijan Shahin Mustafayev said that the Associations activity will create conditions for expansion of Azerbaijani businessmens activity in Turkey as well as new cooperation opportunities.
" 1.106 companies with Turkish capital are currently working in Azerbaijan and about 1.000 Azerbaijani companies in Turkey. Turkish investments in Azerbaijan make about $1,9 bn and investments of State Oil Company and other Azerbaijani companies in Turkey- $4,5 bn. By 2018 SOCARs investments will be brought to $17 bn ",- the Minister said.
SOCARs rep in Turkey Seymur Agayev has been appointed head of TAIB. At the meeting he called the Associations functions and stressed its role in coordination and promotion of new investments.
The ceremony was also attended by SOCAR President Rovnag Abdullayev, Deputy Economy Minister of Turkey Ahmed Yakidji, Chairman of Azerbaijan Entrepreneurship Confederation Mammad Musayev.
Memorandum on Mutual Understanding was signed between Azerbaijani Business Association and Azerbaijan Turkish Business Association (ATIB), Organization of Turkeys Foreign Economic Relations, National Azerbaijan Entrepreneurship Confederation and Azerbaijan Export and Investment Promotion Foundation (AZPROMO).
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