Thanks to the preferential trade agreement, which was concluded with Turkey in early 2020, and the development of transport infrastructure, the range of goods that are supplied to the Turkish market has grown dramatically, Economy Minister Mikhail Jabbarov said in an interview with the CBC TV channel.
Report quotes the minister as saying Azerbaijan concludes an increasing number of trade and economic agreements.
"At the outset of 2020, an agreement on preferential trade was concluded and, accordingly, entered into force. Under it, the range of goods supplied to the Turkish market has grown sharply. We have a fairly impressive growth in the volume of local exports precisely due to the fact that a number of Azerbaijani goods now enter the Turkish market with zero or with a minimum customs duty," he added.
"Since 2015, Azerbaijan's non-oil sector has been growing at a rapid pace, with double-digit growth rates over the past three years. In 2021, the growth of the non-oil industry exceeded 20%, which means more goods are produced and exported. The growth of non-oil export in 11 months 2021 amounts to 44% and, of course, industry plays a leading role here," he elaborated.
The minister spoke about large investments in transport and logistics infrastructure over the past two decades. As Jabbarov explained, this is objective. On the one hand, Azerbaijan does not have access to the open sea, on the other hand, the development of the transport and logistics sector is an integral part of the policy to diversify the economy.
“The Zangazur Corridor plays a unique role in this respect. It is the point where we see the intersection of both the North-South and East-West routes.”
The minister indicated that, first, this refers to the restoration of the infrastructure that existed during the USSR, when the crossing point of railways between Iran and Azerbaijan was in Julfa, Nakhchivan.
"Even today, in the absence of direct railway traffic, a large volume of trade along the North-South route and back passes through Azerbaijan. But the new corridor will provide opportunities for access to the existing transport infrastructure for certain provinces of Iran, Turkey and other regional countries," Jabbarov added.