In January-May 2025, the trade turnover between Azerbaijan and member countries of the Economic Cooperation Organization (ECO) has reached $3.5 billion, First Deputy Minister of Economy Elnur Aliyev said at the 6th ECO business forum, Report informs.
According to him, trade relations for Azerbaijan form the basis of regional integration, and in recent years, there have been positive moments for the country's business sector in this area:
"This means a 10% increase compared to the previous year. We continue this dynamic with an expanded network of bilateral agreements. Azerbaijan currently has free trade agreements with five member countries of the organization and preferential trade agreements with both Türkiye and Pakistan. By reducing barriers and opening markets, this tool further strengthens trade throughout the ECO region."
He noted that in addition to trade relations, investment cooperation between Azerbaijan and ECO member states could change significantly: "According to data as of June 1, 2025, more than 10,000 companies from ECO countries are actively operating in Azerbaijan. Since 1995, over $22 billion has been invested in Azerbaijan from member states. This has contributed to the development of key sectors of our economy."