Turkey and Azerbaijan Investments Reach 40 Billion Dollars

Turkey-Azerbaijan Economic Relations Strengthen

Minister of Labor and Social Security Vedat Işıkhan emphasized the strengthening of relations between the two countries during a meeting with Turkish business people in Baku, the capital of Azerbaijan. Işıkhan stated that this economic and commercial cooperation has developed within the framework of the understanding of "one nation, two states."

Trade Volume and Investments

Işıkhan noted that the trade volume between Turkey and Azerbaijan is expected to reach 7.9 billion dollars by 2024. Turkey's direct investments in Azerbaijan amount to 17 billion dollars, while investments by Azerbaijan in Turkey have exceeded 21 billion dollars.

Mutual Goals and Business World

Işıkhan expressed his belief that they can quickly achieve the mutual trade volume targets set by the presidents, saying, "I wholeheartedly believe that we will reach this target with the initiatives and support of you, our esteemed business people."

Digitalization of Services

Işıkhan stated that efforts are being made to increase the effectiveness of services provided to Turkish citizens living abroad, mentioning that many transactions can be conducted online thanks to the information system developed since 2019.

Labor Agreements with Azerbaijan

Işıkhan reported that relations with the Azerbaijani Ministry of Labor and Social Security have been progressing positively, and that social security and labor agreements between the two countries are being implemented effectively. He said they will carefully evaluate the requests of business people. Problems and suggestions have been noted, and necessary steps will be taken.

Addressing business people, Işıkhan stated, "No matter where they are in the world, we will continue to stand by all our citizens. We know you represent our country in the best way in Azerbaijan. As a ministry, we are ready to provide the necessary support in any matter you need."