Azerbaijan & Türkiye Ink Protocol On Amendments To Preferential Trade Accord

4/30/2023 2:05:26 AM

(MENAFN- AzerNews) Azerbaijan and Türkiye have signed the Protocol on amendments to the Preferential Trade Agreement, Azerbaijani Economy Minister Mikayil Jabbarov wrote on Twitter.

Azerbaijan and Turkiye collaborate in a variety of economic sectors and have completed major energy and infrastructure projects, such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Kars, and TANAP.

In 2021, Azerbaijan and Turkiye signed the Shusha Declaration on Allied Relations, which focuses on defense cooperation, promoting regional stability, and prosperity through establishing new transport routes.

The two countries set up a goal of bringing the mutual trade turnover to $15 billion in 2023. As of 2021, the trade turnover between the two countries amounted to $4.6 billion. So far, Turkiye is Azerbaijan's second-largest investor followed by the UK.

Additionally, Turkiye was one of the first countries keen on involvement in the restoration of Azerbaijan's liberated territories.

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