On December 14, the Azerbaijan Export and Investment Promotion Foundation (AZPROMO), the Georgian Chamber of Commerce and Industry and the Turkish Foreign Economic Relations Board organized the 6th Azerbaijan-Georgia-Turkey business forum with the support of the Ministry of Economy of the Republic of Azerbaijan, the Ministry of Economy and Sustainable Development of the Republic of Georgia and the Ministry of Trade of the Republic of Turkey.

Officials and more than 200 businessmen working in various sectors of the economy attended the event.

Stressing the importance of holding the Azerbaijan-Georgia-Turkey business forum in Baku, the Economy Minister Mikayil Jabbarov voiced that the heads of states attaches particular importance to the development and expansion of relations between the two countries, and that the business forum, held in a trilateral format for the sixth time, demonstrated the unity and friendship between Azerbaijan, Turkey and Georgia.

Mr. Jabbarov, emphasizing the great victory of Azerbaijan and the liberation of our lands from occupation, noted that Turkey's strong political and moral support for our country and Georgia's unfailing confidence in good-neighborly and partnership relations are highly valued in our country. It was also noted that with the end of the Garabagh conflict, favorable opportunities have opened up for creating a new multifaceted platform for regional cooperation and for each country to benefit from this process.

The event provided information on economic relations with fraternal Turkey, and the high level of strategic cooperation, brotherhood and partnership between our countries, and noted that the Shusha Declaration signed by the heads of states on June 15, 2021 opens up new prospects for deepening our cooperation. The Economy Minister named Turkey as one of the main trade partners of Azerbaijan, voicing that work is underway to expand the framework of the Preferential Trade Agreement, which entered into force this year, and that the Trade Office, which will be created at the Consulate General of Azerbaijan in Istanbul, will contribute to deepening cooperation.

Speaking about the economic relations of Azerbaijan with Georgia, Mr. Jabbarov highlighted increase in trade with Georgia by 33% in January-October 2021, one of the main trading partners, despite the restrictions created by the pandemic. Azerbaijan is one of the largest investors in Georgia. Currently, work is underway to further expand trade and transport links between the two countries and simplify customs clearance.

The event reported that regional cooperation is of great benefit to all three countries, and large joint infrastructure projects, the Baku-Tbilisi-Ceyhan oil pipeline, the Baku-Tbilisi-Erzurum gas pipeline, the Baku-Tbilisi-Kars railway, the Southern Gas Corridor are examples of successful Azerbaijan-Georgia-Turkey cooperation.

“Our countries enjoy great potential for expanding relations in various spheres of the economy. The issues discussed and negotiated during the business forum mean a lot for the development of trade and economic relations between friendly countries and business partnership between businessmen. Reconstruction works are underway in our liberated territories, and the Alat Free Economic Zone and Zangazur corridor have advantages for regional cooperation. To date, 921 applications have been received for doing business in the territories liberated, of which 283 fall to foreign companies. Recently created economic zones Aghdam and the Araz Valley Economic Zone in Garabagh also receive great interest”, the Minister said.

Speaking about the economy of Azerbaijan, a favorable investment and business environment created in the country, the Economy Minister underlined that the share of the private sector in GDP is more than 80%. The volume of foreign direct investment in the country's economy over the past 10 years amounts to $ 57 billion. In the first 11 months of 2021, GDP increased by 5.3%, the non-oil sector - by 6.4%, and non-oil exports - by 44%.

Turkish Trade Minister Mehmet Mush expressed that trilateral cooperation contributes to regional integration and the well-being of our peoples, stressing the importance of expanding mechanisms for the development of economic and trade cooperation and the full realization of our economic potential to strengthen our partnership. Mr. Mehmet Mush further noted that the successful operation of Turkish companies is promoted by a favorable business and investment environment enabled in Azerbaijan.

Minister of Economy and Sustainable Development of Georgia Natia Turnava expressed satisfaction with her visit to Azerbaijan, voicing that Azerbaijan and Turkey are among the main trade partners of Georgia. Speaking about the Georgian economy, Natia Turnava said that the implementation of new joint initiatives and projects will contribute to the promotion of the private sector, and thereby expand regional cooperation.

Acting President of the AZPROMO Yusif Abdullayev, President of the Georgian Chamber of Commerce and Industry Georgi Pertaia and President of the Foreign Economic Relations Board Nail Olpak informed about the efforts made to boost cooperation between business circles and the planned measures.

The business forum reached the signature of Memorandums of Understanding between the AZPROMO and the Georgian Chamber of Commerce; between the Azerbaijan Chamber of Commerce and the GCCI; between the Small and Medium Business Development Agency and the Union of Azerbaijani Businessmen in Georgia; between the Fourth Industrial Center for the Analysis and Coordination of Revolutions and the Turkish Employers' Association of Metal Industries (MESS); and between AzShaker and AgroBay Seracılık İthalat Sanayi ve Ticaret.

The event continued with bilateral meetings of businessmen.

Participants of the Azerbaijan-Georgia-Turkey business forum visited the Alat Free Economic Zone and Sumgait Chemical Industrial Park, and became familiar with business and investment opportunities.