Senior officials from Türkiye and Azerbaijan have reaffirmed their commitment to deepening economic cooperation and significantly expanding bilateral trade and investment during the 2nd Azerbaijan–Türkiye Investment Forum held in Baku.

Speaking at the forum on December 23, Turkish Vice President Cevdet Yılmaz highlighted the strong strategic partnership between the two countries, stressing that economic integration remains a central pillar of Ankara–Baku relations. The event brought together high-level government representatives, business leaders, and investors from both sides to review achievements and outline future cooperation.

Azerbaijani Prime Minister Ali Asadov said mutual investments between the two countries have reached approximately $38 billion, with Azerbaijan investing more than $20 billion in Türkiye, while Turkish investments in Azerbaijan are approaching $18 billion. He emphasized that both governments are committed to maintaining steady and growing investment flows as part of their long-term economic vision.

Turkish Trade Minister Ömer Bolat noted that bilateral trade has grown rapidly in recent years, increasing from $2.6 billion in 2016 to around $8 billion today. He said both sides are working to further raise trade volume through new agreements, improved logistics, and closer private-sector cooperation.

A key focus of the forum was the role of major transport and logistics projects in boosting regional trade. Officials and business leaders underscored the importance of the Zangezur Corridor and the Middle Corridor, describing them as game changers for regional connectivity.

Bolat said these corridors would provide Türkiye with faster access to Central Asia while strengthening supply chains between Asia and Europe. He added that the projects would help accelerate global trade flows and enhance the competitiveness of both countries as regional logistics hubs.

The forum also marked progress in energy sector cooperation. An agreement was signed for Azerbaijan’s state energy company SOCAR to acquire a major power plant in Türkiye, signaling further integration of the two countries’ energy markets. Officials described the deal as a strategic step toward strengthening energy security and expanding joint investments in power generation and infrastructure.

Participants agreed that expanding trade, investment, energy cooperation, and transport connectivity will remain priorities in the coming period. Both governments reaffirmed their goal of translating political solidarity into tangible economic gains, in line with the long-standing “one nation, two states” principle guiding Türkiye–Azerbaijan relations.

The forum concluded with calls for continued dialogue between public institutions and the private sector to unlock new investment opportunities and sustain economic growth across the region. (ILKHA)