Turkey ratifies important protocols with Azerbaijan

Turkey’s President Recep Tayyip Erdogan has ratified protocols signed with Azerbaijan within the 8th meeting of the Turkey-Azerbaijan Joint Economic Commission, Trendreports referring to Turkey’s Resmi Gazete.

The protocols aimed at the development of bilateral economic ties were signed on September 16, 2019, as part of the visit of Turkish Vice President Fuat Oktay to Baku.

In November 2019, Turkey’s trade turnover with Azerbaijan increased by $25.6 million, compared to November 2018, and amounted to $189.1 million.

Turkish exports to Azerbaijan amounted to $158.2 million, while imports from Azerbaijan reached $30.9 million in November 2019.

As reported, Turkey-Azerbaijan trade turnover increased by $106.5 million from January through November 2019, compared to the same period in 2018, and exceeded $1.8 billion.

From January through November 2019, Turkey’s exports to Azerbaijan amounted to $1.4 billion, and imports from Azerbaijan stood at $353.5 million.