Oval Useful news from Azerbaijan and Caucasus
Azerbaijani Foreign Minister Jeyhun Bayramov and his Turkish counterpart Mevlut Cavusoglu have discussed bilateral cooperation between the two countries, the ministry reported on January 31.
In a telephone conversation the ministers also exchanged views on the current situation in the region, the report added.
Azerbaijan and Turkey cooperate in various fields of economy and have jointly completed giant energy and infrastructure projects such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Kars, and TANAP.
On June 15, Azerbaijan and Turkey signed the Shusha Declaration on Allied Relations, which focuses on defence cooperation, promoting regional stability and prosperity, and establishing new transportation routes.
In the first ten months of 2021, the trade turnover between Azerbaijan and Turkey amounted to $3.4 billion. The trade turnover between the two countries amounted to $4.1 billion in 2020.
The two countries set up a goal to bring the mutual trade turnover to $15 billion in 2023. It should be noted that so far, Turkey is Azerbaijan’s second-largest investor followed by the UK.
Additionally, Turkey was one of the first countries that expressed its interest and readiness to participate in the restoration of Azerbaijan’s liberated territories.
Azerbaijan and Turkey periodically hold joint drills to improve interaction and communication between their army units. In 2021 number of joint drills took place with the participation of servicemen of the two countries.
By Vugar Khalilov
