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Azerbaijani Investments in Turkey to Reach $20B until 2020 – President Aliyev

Azerbaijan and Turkey have excellent cooperation in the economic sphere, Azerbaijan's President Ilham Aliyev said Jan. 15 in Ankara.

The president was addressing a joint press conference with Turkey's President Recep Tayyip Erdogan.

"Billions of dollars have been invested by Azerbaijan in Turkey, and by Turkey in Azerbaijan in recent years," he said. "The volume of Azerbaijani investments in Turkey will reach $20 billion until 2020."

The Azerbaijani president further noted that Turkish companies are successfully operating in Azerbaijan, and they have implemented projects worth $10 billion.

"The Southern Gas Corridor project's implementation, will, of course, further deepen cooperation in the energy sphere, and here we lay the foundation of a multilateral cooperation," he said.

President Aliyev noted that Azerbaijan, Turkey, Georgia and other members of the Southern Gas Corridor should carry out active joint work.

"The following month, Baku will host the First Advisory Council of the Southern Gas Corridor. Specific and precise recommendations for the implementation of this project will be given at the council's meeting," the president said.

He also stressed that the foundation of the Southern Gas Corridor was laid about three years ago in Istanbul.

Ilham Aliyev said that an agreement on TANAP project was signed with Erdogan, adding that TANAP project is indeed the core of the Southern Gas Corridor, that's to say, its foundation.

"The decision we adopted today, turned into a very big project in the world," he said.

Azerbaijani president said Southern Gas Corridor and the development of Shah Deniz gas condensate field are currently the largest infrastructure projects.

"A total of $45 billion will be invested in this project," he said.

Touching upon other issues, Ilham Aliyev said that Baku-Tbilisi-Kars railway project and other projects as well will be implemented timely.

"Each of the issues discussed today is a large-scale project in itself," said Aliyev.

"TANAP, Baku-Tbilisi-Kars and other projects have strategic importance," the president said, adding that Turkey and Azerbaijan play a leading role in these projects.

He expressed confidence that all these projects will be implemented in time.

Aliyev said that several events will be held in Turkey in 2015: anniversary of the victory in Canakkale Battle, event related to the implementation of TANAP project and other events.

The head of state expressed hope that the number of visits of Azerbaijani representatives to Turkey will increase in 2015.

Ilham Aliyev once again invited Turkish President Recep Tayyip Erdogan to Azerbaijan.

"Our meetings are held frequently, these meetings even more unite our peoples and make closer our countries and Turkey and Azerbaijan even more strengthen their power," he said.

Source: Trend

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