Selcuk Akat: Türkiye wants to increase trade turnover and investments with Azerbaijan

The expansion of the scope of the Preferential Trade Agreement between Azerbaijan and Türkiye will increase the trade turnover between the two countries to $15 billion, Selcuk Akat, a member of the Board of Directors of Türkiye - Azerbaijan Friendship Cooperation and Solidarity Foundation, told Report.

According to him, a protocol on expanding the scope of the Preferential Trade Agreement was signed between Azerbaijan and Türkiye in April of this year: "Following the protocol, some agricultural and industrial products have been added to the existing list, and mutual benefits are provided for them. This is an important step to achieve the goals set by the heads of the two countries to increase the volume of trade turnover to $15 billion.”

In addition, Akat noted that trade transactions between the two countries tend to increase regularly: “In 2022, this indicator increased by 7.9% compared to the previous year and reached $3.3 billion. In the first 6 months of 2023, trade transactions rose by 40.5% to $4.75 billion.”