"Azerbaijan's trade turnover with member states of the Cooperation Council of Turkic-speaking Countries reached USD 4.4 bln. in 2020," said Chairman of the Board of the Agency for Small and Medium Entrepreneurship Development of Azerbaijan (KOBIA) Orkhan Mammadov while his speech in the conference entitled "Innovative activity of small and medium entrepreneurship in the stabilization of economic growth during post-pandemic period", APA-Economics reports.
According to him, share of member states of the Council in Azerbaijan's foreign trade makes up 17.9%.
"Certainly, there is great potential for development of economic and trade relations among our countries. Karabakh region, which was under Armenian occupation for about 30 years, opens new opportunities now within the framework of the new geopolitical scene appeared in the region. The Zangazur Corridor, which plays the role of connection of Turkic World, will have strategic importance for not only the Caucasus but the region in broad essence. We are talking about a corridor that will strategically and economically connect the Turkic-speaking countries with a nominal GDP of more than USD 1.1 trillion.
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