Türkiye, Azerbaijan to raise mutual trade to $15bln

The documents were signed following the high-level talks held in Ankara with the participation of the presidents of Azerbaijan and Türkiye – Ilham Aliyev and Recep Tayyip Erdoğan.

The Ministry of Science and Education of Azerbaijan and the Council of Higher Education of Türkiye inked a memorandum on establishment of the Turkish-Azerbaijani University.

Another document is the Agreement on cooperation between the Government of the Republic of Azerbaijan and the Government of the Republic of Türkiye in the field of veterinary.

Besides, the Ministry of Economy of Azerbaijan and the Turkish Ministry of Treasury and Finance entered into the agreement on elimination of double taxation in relation to income taxes and prevention of tax evasion.

At a joint press conference with President Ilham Aliyev, Recep Tayyip Erdoğan said that trade volume between Türkiye and Azerbaijan reached $7.5 billion in 2023.

“We will make every effort to raise it to $15 billion,” he said.

Recep Tayyip Erdoğan also emphasized the importance of interaction between the two countries in the transport and energy sectors. He also drew attention to the Kars-Nakhchivan railway project, reminding that the issue had already been discussed with Ilham Aliyev in September 2023, during his visit to Nakhchivan, where a corresponding memorandum of intent was signed.

The Turkish President prioritized the expansion of the capacities of the Trans-Anatolian Natural Gas Pipeline (TANAP).

In turn, Ilham Aliyev noted that cooperation between the two countries would not be limited to the above-mentioned issues. In his words, cooperation in the field of defense and education is of importance as well.