Türkiye and Azerbaijan see potential to boost trade via joint strategies

Türkiye and Azerbaijan have opportunities to further increase trade turnover through joint strategies targeting third countries, Erdal Bahcivan, head of the Istanbul Chamber of Industry, stated during large-scale business meetings held as part of the chamber's official visit to Baku aimed at expanding economic cooperation between the two countries, Report informs.

He emphasized that both countries have even greater potential. "Our presidents have already set a target of $15 billion. I believe this goal can be achieved easily. I think these figures can grow further, especially through mutual investments and joint strategies focused on third countries," Bahcivan said.

He added that Turkish industrialists and investors must fully understand the opportunities offered by the region. "As this understanding develops, I am confident that the figures will rise significantly. Of course, Azerbaijan also has valuable investments in Türkiye. SOCAR is one of the most important and valuable foreign investors in Türkiye in recent years. This should be seen not only as Turkish industrialists investing in Azerbaijan, but also as an opportunity for our Azerbaijani partners to implement production and projects in various sectors in Türkiye."

Bahcivan stressed that the key issue is identifying what both countries can jointly do and develop in third countries, neighboring states, or other regions of the world, noting that both economies possess complementary and valuable resources and opportunities.