Increase in the number of Azerbaijani companies operating in Turkey in 2021

August 10, 2021 17:16 (UTC + 04: 00)

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By Ayya Lmahamad

The number of Azerbaijani-owned companies registered in Turkey in the first half of 2021 increased by 73, bringing the total number of such companies to 124, Day.az reported.

The total capital of Azerbaijani-owned companies registered in Turkey in the first six months of the year was TL 37.2 billion ($ 4.3 billion), compared to TL 8.2 billion ($ 957.8 million). dollars) of TL in the corresponding period of 2020.

During the period under review, the vast majority of companies with Azerbaijani capital were registered in Istanbul (109), with a total capital amounting to TL 37.1 billion ($ 4.3 billion).

In addition, out of the total number of registered companies, 51 work in wholesale and retail trade, 14 in transport and logistics, 11 in industry, eight in real estate sales, six in construction, six in construction. tourism, one in mining and one in agriculture. The rest of the businesses are involved in other sectors of the economy.

It should be noted that 148 companies with Azerbaijani capital were registered in Turkey in 2020. Among them, 126 companies were registered in Istanbul.

Azerbaijan and Turkey cooperate in various economic fields and jointly carried out giant energy and infrastructure projects such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Kars and TANAP.

Eleven agreements were signed between the two countries as part of the Azerbaijani-Turkish trade forum held in Ankara on February 18. The agreements envisage the development of Azerbaijani-Turkish cooperation in the economic, commercial and other fields. In addition, on June 15, the presidents of Azerbaijan and Turkey signed a Shusha declaration on allied relations between the two countries.

The two countries have set a target of increasing the mutual trade turnover to $ 15 billion by 2023. It should be noted that so far Turkey is the second largest investor in Azerbaijan, followed by the United Kingdom.

Moreover, Turkey was one of the first countries to express its interest and willingness to participate in the restoration of the liberated territories of Azerbaijan.

In the first half of 2021, the commercial turnover between Azerbaijan and Turkey was $ 2.2 billion. Trade turnover between the two countries was $ 4.1 billion in 2020.

Ayya ​​Lmahamad is the reporter for AzerNews, follow her on Twitter: @AyyaLmahamad

Follow us on twitter @AzerNewsAz


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