Investments in Azerbaijan to date have exceeded $360 billion, Azerbaijani Deputy Minister of Economy Samad Bashirli said at the 2nd Azerbaijan-Turkiye Investment Forum, Report informs.
According to him, approximately half of this amount comes from foreign investment.
The deputy minister noted that non-oil exports have doubled over the past six years, indicating Azerbaijan's increased competitiveness in international markets.
"With the active participation of foreign partners, joint projects are being implemented in areas such as green energy, agriculture, industry, transport, logistics, digitalization, and tourism. The results achieved demonstrate that there is significant potential for further expansion of trade and investment cooperation, the implementation of new joint projects, and the development of a long-term economic partnership," he said.
Bashirli stated that Azerbaijan's growing transport and transit potential, regional and global projects initiated and participated in by the country, including the logistics potential of the Middle Corridor, create additional opportunities for mutually beneficial cooperation with Turkiye. He noted that steps to strengthen the Middle Corridor with digital solutions and facilitate trade are expanding transit opportunities for both countries and the region as a whole.
The deputy minister emphasized that the Baku International Sea Trade Port, whose throughput capacity will reach 25 million tons per year in the coming years, nine international airports, the region's largest cargo airline, and other infrastructure advantages have transformed Azerbaijan into an important international transport hub. The Zangazur Corridor is also expected to significantly contribute to expanding transit opportunities for international shipping in the future, he said.
Bashirli noted the great potential for extensive cooperation and joint investments in Karabakh and Eastern Zangazur.
According to him, modern settlements based on the smart city and smart village concepts are being developed in these districts, and the regions have been declared green energy zones.
"The already operational Aghdam Industrial Park and the Araz Valley Economic Zone, new international airports, rapidly developing transport infrastructure, and the benefits and incentives provided to businesses make these areas attractive to investors," he emphasized.
The deputy minister added that modernizing infrastructure and creating new generating capacity to realize the green energy potential of Karabakh, Eastern Zangazur, and Nakhchivan are among the key priorities: "The participation of Turkish businesses in this process is of particular importance. The project to restore and operate four small hydropower plants in the Kalbajar and Lachin districts for the long term has been hailed as a successful example of cooperation in terms of energy and sustainable development."