Türkiye-Azerbaijan Trade Volume Nears $8B, Says Trade Minister

On Tuesday, Türkiye's Minister of Trade, Omer Bolat, announced that the mutual trade turnover between Türkiye and Azerbaijan totaled nearly $8 billion last year.

Bolat made the statement to the press after meeting with Huseyin Buyukfirat, Chairman of the Türkiye-Azerbaijan Businessmen and Industrialists Association (TUIB), The Caspian Post reports citing local media.

Bolat said the upcoming 2nd Azerbaijan-Türkiye Investment Forum in Baku aims to create networking opportunities for businesspeople, discuss investment projects, and identify sectors with potential for increased trade. He noted that Turkish investors have so far invested about $17 billion in Azerbaijan, while Azerbaijan has invested more than $21 billion in Türkiye.

The minister emphasized that the forum is being organized to further boost bilateral investments. He also highlighted the role of Turkish contractors, stating that they have completed around 585 projects worth approximately $21 billion to date.

Earlier on Tuesday, Bolat received Buyukfirat at the ministry, where discussions focused on bilateral trade relations and preparations for the upcoming investment forum in Azerbaijan.

The 2nd Azerbaijan-Türkiye Investment Forum will be held in Baku on December 23 with the support of Azerbaijan's Ministry of Economy and Türkiye's Ministry of Trade. The event is jointly organized by the Export and Investment Promotion Agency of Azerbaijan (AZPROMO) and TÜİB.

The forum is expected to bring together a Turkish delegation led by Presidential Advisor Cevdet Yilmaz, including Trade Minister Ömer Bolat, as well as other officials, representatives of public and private institutions, business associations, and chambers from both countries.

Panel sessions will address regional trade promotion, energy transition, sustainable development and infrastructure projects, expansion of bilateral business ties, and the Fourth Industrial Revolution.