According to Türkiye Exporters Assembly (TİM) President Mustafa Gültepe, Türkiye and Azerbaijan have recently increased their bilateral trade to around $7 billion.

“We believe there is potential to raise this figure to $15 billion in the medium term,” Gültepe emphasized, speaking at the opening of the "Türkiye-Azerbaijan Trade Delegation and B2B Meetings" held in the Azerbaijani capital Baku, The Caspian Post reports, citing Hurriyet daily news.

The meeting was held under the coordination of Türkiye’s Trade Ministry and organized by TİM, in cooperation with the Azerbaijan Export and Investment Promotion Agency (AZPROMO) and the Small and Medium Business Development Agency (KOBİA).

The opening ceremony was attended by Turkish Ambassador to Baku Birol Akgün, Gültepe, KOBİA Chairman Orhan Memmedov and AZPROMO Executive Advisor Şebnem Allahverdiyeva.

In his speech at the event, Gültepe said, “We are observing the positive effects of the preferential trade agreement between our countries. The protocol that expands the scope of this cooperation also reflects very positively on our trade.”

“With the advantages provided by the agreement, more than 11,300 of our companies exported to Azerbaijan last year,” he added.

“Our chemical exports rank first with $537 million, followed by defense and aerospace with $362 million and electrical and electronics with $233 million. On the import side, chemicals, iron and non-ferrous products and textiles stand out,” he detailed.

Gültepe emphasized the importance of projects in Karabakh and East Zangezur, noting, “The Zangezur Corridor will provide uninterrupted land connectivity to Baku via Nakhchivan.”

“Once the corridor opens, we will be directly connected to the Turkic world. Azerbaijan, in turn, will transform into a global logistics hub. There are significant opportunities for cooperation between our countries in various fields,” he said.