Turkey, Azerbaijan specifying details of trading in national currencies

Fri 17 February 2017 10:12 GMT | 14:12 Local Time

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"In 2016, 6.5% of Turkey’s foreign trade turnover was in TRY."

"Increase of trade turnover between Turkey and Azerbaijan is important”, Minister of Science, Industry and Technology of Turkey Faruk Özlü said at the fifth Turkey-Azerbaijan-Georgia business forum held in Istanbul.

He said that despite the global economic crisis, Turkey’s economy stably developed from 2009 till the third quarter of 2016. He noted that the decline in the third quarter of 2016 arose from instable situation in the world.
According to him, the export made up $141 billion, import - $198 bilion and the trade turnover with Azerbaijan fell to $2.4 billion in 2016: “Different discussions are being held in this in regard. One of them is to trade in national currencies. In 2016, 6.5% of Turkey’s foreign trade turnover was in TRY. We want to increase this figure”.




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