Azerbaijan Notes Increase In Exports From Nakhchivan To Turkiye

In Nakhchivan, 80 out of the 146 business entities created andregistered jointly with Turkish businessmen are active,constituting 55 percent of the total, Azernews reports.

At the 'Azerbaijan-Turkiye Trade Relations: Export Opportunitiesof Nakhchivan' event held at the Nakhchivan Business Centre, AbbasIsmayilov, Deputy Minister of Economy of the Nakhchivan AutonomousRepublic, acting minister, revealed that Turkish companiesconstitute 78 percent of foreign capital firms operating inNakhchivan.

Ismayilov provided guests with a comprehensive overview ofongoing reforms and the favourable business and investment climatein Nakhchivan. He highlighted potential avenues for furtherexpansion of economic and trade cooperation between Azerbaijan andTurkiye.

Statistics from the first four months of 2024 showcasedTurkiye's prominence in Nakhchivan's foreign trade turnover, with anotable 28 percent increase in exports to Turkiye compared to thesame period last year. Overall, Nakhchivan's total trade turnoverwith foreign countries amounted to $32.2 million, with Turkiyeaccounting for 52.7 percent of this figure.

Notable exports from Nakhchivan to Turkiye include mineralwaters, waffle products, tobacco products, electricity, furniture,building materials, and travertine stone products. Conversely,Turkiye primarily exports food products, household electricalappliances, furniture, textiles, pharmaceutical products, andvarious machinery to Nakhchivan.

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