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Azerbaijan’s investments in Turkey to reach $20B

Azerbaijan is planning to invest $20 billion in Turkish economy by 2020, Turkey-Azerbaijan Business Council Chairman Selçuk Akat said.

“Taking into account that SOCAR increased its target of investing in Turkey from $18 billion to $19.5 billion, Azerbaijan will invest $20 billion in Turkey by 2020. Of course, most of these investments will be made by SOCAR. SOCAR intends to invest $17 billion in Aliaga, Izmir”, he said.  

 

Touching upon trade turnover between the two countries, Akat said that this figure made up $650 million in January-May: “Our trade turnover was $326 million in 2000, $1.035 billion in 2006 and $3.3 billion in 2013. Last year, the trade turnover declined about $1.6 billion. It’s clear that these figures don’t reflect realities. The time has already come to realize economic potential”.  

 

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