Baku: Senior officials from Trkiye and Azerbaijan highlighted growing economic cooperation at the 2nd Azerbaijan-Trkiye Investment Forum held in Baku on Tuesday. Azerbaijani Prime Minister Ali Asadov emphasized the importance of expanding economic and trade ties with Trkiye, noting the significant investments between the two countries. Azerbaijan has invested over $20 billion in Trkiye, while Turkish investments in Azerbaijan amount to approximately $18 billion. Asadov expressed a commitment to maintaining these mutual investments and encouraged Turkish businesspeople to engage more actively in Azerbaijan, citing economic reforms and reconstruction efforts in Karabakh as key areas of focus.

According to Anadolu Agency, Turkish Trade Minister Omer Bolat reported a substantial increase in bilateral trade volume, which rose from $2.6 billion in 2016 to $8 billion. Bolat highlighted the strategic importance of Azerbaijan as a transit hub, particularly through the Zangezur Corridor and the Middle Corridor, both of which are expected to significantly enhance regional and global trade. He noted that the completion of the Zangezur Corridor would provide Trkiye with rapid access to Central Asia and the Far East, while the Middle Corridor would further accelerate global trade.

Huseyin Buyukfirat, Chairman of the Trkiye-Azerbaijan Businessmen and Industrialists Union, described the Zangezur Corridor as a strategic project that would bolster trade, connectivity, and long-term prosperity across the region. During the forum, an agreement was signed for Azerbaijan's state oil company, SOCAR, to acquire all shares of the GAMA Energy Central Anatolia Natural Gas Combined Cycle Power Plant. The event concluded with panel discussions covering topics such as Industry 4.0, agriculture, trade and logistics corridors, and access to finance.