Investment opportunities in Azerbaijan were discussed at TOBB

The program, held at the TOBB Social Facilities, was attended by Tamerlan Taghiyev , Azerbaijan's Trade Representative to Turkey; Reşad Mammadov , Azerbaijan's Ambassador to Ankara; TOBB PresidentRifat Hisarcıklıoğlu ; and businesspeople. A video presentation on investment opportunities in Azerbaijan was shown during the program. Following a presentation by Cavid Abdullayev, Chief Advisor to the Trade Representative's Office, on investment opportunities in Azerbaijan, bilateral meetings were held.

"WE WANT BUSINESS PEOPLE FROM Türkiye TO BE AT THE FORE."

Azerbaijan's Trade Representative in Türkiye, Taghiyev, said that the trade representative office in Türkiye has been operating in Istanbul since 2023 and that visits to 20 regions of Türkiye have been provided during this period. Taghiyev stated, "Meetings were held with business people from various sectors, and visits to Azerbaijan by more than 30 investment missions were organized. Some of the companies participating in these visits have already invested in Azerbaijan and started production. In recent years, large Turkish companies such as Baykar, Demirören, Kartaş, Gedik, and GEN İlaç, as well as small and medium-sized companies, have started operations or entered the investment process in Azerbaijan. I would like to point out that today, more than 6,000 Turkish-capital companies operate in various sectors in Azerbaijan. In September, as part of the 1st Azerbaijan International Investment Forum held in Baku, agreements were signed for projects with a total value exceeding $10 billion, and more than $7 billion of this was directed to non-oil sector investments to be carried out with foreign participation. Furthermore, investors are not only provided with exemptions, but also financial support mechanisms and long-term, low-interest loans from state institutions. Furthermore, free trade agreements signed by our country with 10 countries provide duty-free access to a market with a population of 280 million. Today, our country has become one of the world's largest exporters." "Investors are coming from all over. As the trade representative in Türkiye, we want Turkish businesspeople to be at the forefront of these opportunities. We believe that entrepreneurs from Türkiye can achieve great success in a win-win environment in Azerbaijan," he said.

'TRADE IS STARTING TO DEVELOP IN THE REGION'

Ambassador Mammadov, addressing normalization with Armenia and new trade developments, said, "Today, Azerbaijan is an independent and sovereign state. Why do I say 'today'? Because we gained our independence 34 years ago. But two years ago, we gained our territorial integrity. For 34 years, we focused on the liberation of our lands. But today, thankfully, there is peace in the Caucasus. Today, our relations with Armenia are normalizing. We are opening the roads. For the first time, two or three days ago, we opened a train directly from Kazakhstan to Armenia and removed all obstacles. In other words, trade is beginning to develop in the region. The opening of the Zangezur Corridor, the opening of all Armenia-Azerbaijan roads other than the Zangezur Corridor, and the opening of the railways through Georgia are expected. This is the creation of new opportunities for our region, for a new era of peace."

'WE NEED TO TALK ABOUT THE SCOPE OF THE NEW GENERATION FREE TRADE AGREEMENT'

Hisarcıklıoğlu, President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB), stated that Baku has become one of the most beautiful capitals in the world, saying, "Azerbaijan liberated Nagorno-Karabakh from a 32-year occupation and liberated its lands. An opportunity for lasting peace and tranquility has emerged in the region. Now, it is being reconstructed after the war, thus creating new opportunities for our companies. Together with our Azerbaijani brothers, we are ready to do our part for the development of the region and the entrenchment of peace in the region. It is in our hands to make Karabakh and Shusha shining stars like Baku and other Azerbaijani cities. The Zangezur Corridor, which will connect Nakhchivan and Baku, will make great contributions to the development of trade in our region. While Turkey supplies resources from Azerbaijan in the field of energy, it also contributes to Azerbaijan in industrial products and services. However, our trade with Azerbaijan is well below its potential, except for energy. We also need to develop our potential in transportation and energy. The Baku-Tbilisi-Kars railway line is one of the most concrete examples of this. However, to obtain higher efficiency from this line, renovation works need to be carried out." "It must be completed urgently. Similarly, work on the Kars-Nakhchivan railway project must be completed quickly. Increasing TANAP's capacity, transferring Turkmenistan's Caspian natural gas to Türkiye and Europe, and utilizing the Trans-Caspian crossings more effectively and efficiently are also among our priorities. We now need to discuss the scope of a next-generation free trade agreement that enables more comprehensive economic integration. Furthermore, let's provide arbitration facilities at international standards to attract investors to our countries," he said.