Azerbaijani-Turkish Business Forum to be held in Ganja

Azerbaijani city of Ganja will host Azerbaijani-Turkish Business Forum on November 4, a message of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) said on Wednesday.

The event, organized by AZPROMO with the support of Azerbaijani Ministry of Economy and Industry, will be held within the framework of the Turkish delegation's visit to Azerbaijan. Turkish delegation will include about 20 businessmen who are engaged in the fields of agriculture, food, heavy industry, construction, ICT and others.

Turkey is among five largest foreign investors of Azerbaijan. According to Azerbaijan's State Statistics Committee, in January-September 2013 the volume of Turkish investments in Azerbaijan's economy amounted to 186.34 million manats or 5.5 per cent of the total foreign investments made during the reporting period.

According to estimates of the Turkish side, the investments of Turkey in Azerbaijan amount to $ 6.5 billion and Azerbaijani capital investments in Turkish economy make up $4 billion.

Currently there are 2,000 companies with Turkish capital operating in Azerbaijan, which constitutes 36 percent of all foreign companies operating in the country. In turn, the number of Azerbaijani companies operating in Turkey exceeds 1,100.

According to the State Customs Committee of Azerbaijan the trade turnover between Azerbaijan and Turkey in January-August 2013 amounted to $1.33 billion. The volume of Azerbaijani export to Turkey was equal to $355.61 million, whereas goods worth $975.43 million were imported to Azerbaijan. (Trend)