Minister: Azerbaijan, Türkiye have preferential trade mechanism

A Preferential Trade Agreement is in force between Azerbaijan and Türkiye, and technical-level negotiations on this mechanism are ongoing, Turkish Minister of Trade Omer Bolat said at a press briefing, Report informs.

He noted that Türkiye's Ministry of Trade closely cooperates with Azerbaijan's Ministry of Economy: "On December 22–23, we will travel to Baku with a large delegation representing public and political sectors, government, and Türkiye's private sector. On December 22, Vice President Cevdet Yilmaz will chair the Turkish delegation at the joint economic commission meetings, while Prime Minister Ali Asadov will lead the Azerbaijani delegation."

Bolat added that relevant ministers and deputy ministers will participate in the meetings, where key consultation mechanisms between the two countries will be discussed:

"The joint economic commission, as an institutional mechanism, will cover a wide range of topics in Türkiye–Azerbaijan relations, from trade and agriculture to industry, energy, transport, tourism, and national education, with agreements to be signed."

Speaking about the 2nd Azerbaijan–Türkiye Investment Forum to be held on December 23, the minister recalled that the first forum took place in December 2023:

"Türkiye participated with a large delegation, and significant discussions were held to encourage Turkish entrepreneurs to invest, trade, and engage in joint production in Azerbaijan."

Bolat also emphasized that Türkiye prioritizes preferential trade agreements with Turkic states, particularly Azerbaijan. He noted that alongside Azerbaijan, Türkiye has similar cooperation with Uzbekistan:

"We are also members of the Economic Cooperation Organization (ECO), and we have eco-preferential trade agreements with its member states. Within this framework, reciprocal customs duty concessions are applied to certain products. We are working intensively to further expand the scope of these preferential agreements."