Foreign trade with Turkey up 60%-Minister

12 ─░yun 2012 16:01 (UTC+04:00)

During the first four months of 2012, Azerbaijan's foreign trade with Turkey increased by 60% compared to the adequate period of the last year.

At the same time, trade turnover with Georgia increased by 15%.

Azerbaijani Economic Development Minister Shahin Mustafayev has told the figures to the to the Azerbaijan-Turkey-Georgia economic forum.

According to the minister, Turkish investments in Azerbaijan involved 1,106 companies, while Azerbaijani investments in Turkey involved 844 companies.

Turkish investments in Azerbaijan are amounted to circa USD 1.9bn, while investments of SOCAR and other Azerbaijani companies in Turkey make up circa USD 4.5bn.

In 2018, SOCAR's investments in Turkey are expected to hit USD 17bn.

Speaking about economic relations with Georgia, the minister said Azerbaijani investments in Georgia involve 272 companies.

According to the minister, in 1996-2011, these companies injected USD 454,5m worth investments to this county.