Turkish Ambassador: We expect over 15-20 bln USD investments from Azerbaijan

Baku. 1 December. REPORT.AZ/ "Unfortunately, bilateral trade between Turkey and Azerbaijan is not at the desired level due to global events during recent years. Even a slight decline is observed compared to previous years."

Report informs, Turkish Ambassador to Azerbaijan, Erkal Özoral said at Azerbaijan-Turkey business meeting on ICT in Baku.

"However, we intend to increase volume of the bilateral trade to 15 billion USD until 2023. Of course, economic relations are not limited only with trade. The two countries have mutually made great investments. Turkey's total investment in Azerbaijan reached 9 billion USD. Also, Azerbaijan's investment in Turkey increasing. Currently, the investment is over 4 billion USD, however, in future years, we expect this figure to exceed 15-20 billion USD, especially taking into account Star oil refinery," E. Özoral said.

Stating that currently conducted economic reforms in Azerbaijan will increase volume of trade and production and ensure attraction of foreign investors, E. Özoral urged Turkish businessmen to invest in Azerbaijan without hesitation: "Azerbaijan is a shining star of the Caucasus. To make a contribution here is our fraternal duty. Competition is aggravating in the current economic conditions. Azerbaijan is establishing industrial parks, free trade zone. Therefore, it is necessary to be ready for the competition."

Notably, 17 Turkish companies attend today's forum.