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Baku hosts Turkish-Azerbaijan Business Council meeting

19 December 2006 11:37 (UTC +04:00)

Economic Development Minister Heydar Babayev, speaking of the importance of the meeting, underlined that Turkish capital is the leading in non-oil sector investment in Azerbaijan.
He said that Gross Domestic Product has grown by 26.4 percent last year.
â€œAs of November 1, this year the GDP has risen by 35% year-over-year. The real GDP growth level will constitute 32% at this yearâ€™s end. Some USD 20 billion has been invested in the non-oil sector, and Azerbaijan is the leading among the CIS and world states for per capita investment,â€? he said.
Turkish ambassador to Azerbaijan Turan Morali spoke of the activities of Turkish companies in Azerbaijan.
Industry and Energy Minster Natig Aliyev credited Turkish businessmen with having brought the culture of business to Azerbaijan. He said Azerbaijan turns a regional leader for its natural resources.
â€œWith a record of 31 million tons of oil, the output will peak in Azerbaijan this year. The figure will beat 50 million tons next year, by continuing to rise to 60- 70 million tons of oil in a few years. The Shah Deniz field will produce 2.48 billion tons of oil in 2007,â€? he underlined.
Natig Aliyev invited Turkish companies to tap minerals in Azerbaijan.
The participants suggested that a union joining Turkish Industry and Trade, Azerbaijan Industry and Energy Ministries and the Union of Turkish Industrialists and Businessmen (TUSIAB) be created.
Turkish Industry and Trade Minister Ali Coskun supported the suggestion, saying Ankara is ready to host the first meeting of the union, then Baku can host the meeting.
Turkish and Azerbaijani businesspeople representing building, electronics, furniture, textile, international transportation, shipping, telecommunication and other fields had a bilateral meeting at the end the gathering. /APA/