Azerbaijan to increase non-oil exports to Turkey – expert
Azerbaijan will increase its non-oil exports to Turkey after the ratification of the Preferential Trade Agreement between the two countries, Javid Valiyev, expert on Azerbaijan-Turkey relations, head of the Foreign Policy Department of the Azerbaijani Center for the International Relations Analysis, told News.Az.
He noted that Azerbaijan’s exports of oil and gas to Turkey makes the most of the mutual trade turnover worth $4.5 billion. The expert said that the existing trade balance is in favor of Azerbaijan.
Valiyev stressed that the indefinite term agreement covers 25 types of goods.
“As you know, Turkey ranks second after Italy in Azerbaijan’s foreign trade relations. Turkey’s market is very important to Azerbaijan in terms of exporting non-oil goods. Thus, Azerbaijan’s non-oil products are most exported to Turkish market after that of Russia,” he added.
Commenting on the possible impact of the novel coronavirus on Azerbaijan-Turkey economic ties, Valiyev said. “COVID-19 led an increase in Turkey’s cargo transportations to Central Asia via Azerbaijan. This was due to restrictions on Turkey's borders with Iran and Russia. In addition, Turkey also recorded an increase in cargo transportations in that direction through the Baku-Tbilisi-Kars railway. All this indicates Azerbaijan’s growing role as a transit country in Turkey’s foreign economic relations.”