Azerbaijan,Turkey and Georgia mull investments, trade

Turkey leads the way among the countries where Azerbaijan makes investments, Azerbaijani Minister of Economic Development Shahin Mustafayev said at a joint business forum held in Gabala, northern Azerbaijan, last weekend.

According to Mustafayev, the Azerbaijani state oil company SOCAR plans to invest a total of $17 billion in the Turkish economy by 2018.

Gabala on May 25 hosted the Azerbaijan-Georgia-Turkey business forum, which along with the Azerbaijani economic development minister was attended by Georgian Minister of Economy and Sustainable Development Giorgi Kvirikashvili, Turkish Economy Minister Zafer Caglayan and Secretary General of the Cooperation Council of Turkic Speaking States Halil Akinci, as well as more than 250 businessmen from Azerbaijan, Georgia and Turkey.

Stressing the forum's importance for the development of economic relations between Azerbaijan, Turkey and Georgia, Mustafayev said that the three countries play an essential role in ensuring European energy security and the region's importance is increasing day by day.

Mustafayev went on to say that the trilateral business forum is being held for the third time. The previous forums were held in the Georgian capital Tbilisi and in Kars, Turkey. The Georgian city of Batumi will host the next such event.

The business forum in Gabala was organized by the Azerbaijani Ministry of Economic Development, the Azerbaijan Export and Investment Promotion Foundation (AZPROMO), the Georgian National Investment Agency «Invest in Georgia» as well as the Turkish Foreign Economic Relations Committee.

Adapted from



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