Turkey to invest $ 100M in Azerbaijani pharmaceutical industry - ambassador

The Turkish company has received permission to invest $ 100 million in Azerbaijan's pharmaceutical sector, Turkish Ambassador to Azerbaijan Cahit Bagci told Report.

According to him, the deal will be signed soon:

"Turkey and Azerbaijan have deep relations. Our military, energy, and economic relations are developing steadily. There are more than 5,000 small, medium and large businesses owned by Turkish businessmen in Baku. That is, 5,000 Turkish businessmen have companies registered in Azerbaijan. They contribute to the development of trade and industry in Azerbaijan. Turkey is among the leading countries in the service, tourism, health, and food sectors, so the activity of Turkish businessmen in Azerbaijan in these areas is also significant for us. The work done by people working in these fields contributes and will continue to contribute to both countries at different opportunities."

Bagci stressed that the trade turnover between the two countries aims to reach $ 15 billion: "Turkish businessmen are also trying to contribute to this issue. New jobs are being created in every region of Azerbaijan. Permits have been obtained for investments in agriculture and pharmaceuticals, and innovations will be signed in this area soon. At the same time, energy unions are growing. In short, we try to exist in all areas. In September, about 600 Turkish businessmen visited Baku as part of the International Business Forum. Some of them returned to Baku and held meetings in Azerbaijan for cooperation in several fields."

The ambassador noted that the annual trade turnover between the two countries currently exceeds $ 4 billion, and this figure is expected to increase in the near future.