(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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