Removing trade restrictions between Turkic-speaking countries proposed

Strengthening and expanding economic ties with Turkic-speaking countries was of particular importance during the pandemic, Economy Minister of Azerbaijan Mikayil Jabbarov said at the Turkic Council's Economic Summit in Istanbul, Report informs.

Jabbarov stressed that no country can develop alone without international cooperation, investment, trade, exchange of knowledge and technology.

"The development of international trade relations must be based on sustainability, inclusion and environmental protection. Only through close cooperation can we ensure sustainable economic development. It is gratifying that the easing of pandemic-related restrictions has created a favorable environment for the restoration of economic growth in Azerbaijan. In the first nine months of 2021, the country's economy grew by 4.8%, while in the non-oil sector, this growth rate reached 6.2%. Azerbaijan's trade turnover with other countries increased by 25%, our exports increased by 38%, including non-oil exports - by 42%. Much of this growth was achieved thanks to the expansion of our trade relations with Turkic-speaking countries."

Jabbarov noted that discussions would continue these days to remove trade restrictions between the countries gradually.

"Economic and social well-being is at the heart of sustainable development. To this end, the production of goods and services in a healthy ecosystem plays an important role. We believe that ensuring sustainable, green and inclusive development should be a priority, and our cooperation in this area should be further expanded. The Cooperation Council of Turkic Speaking States should play an important role in coordinating the multilateral partnership for sustainable development and make efforts in this direction," the minister added.