Bashirov made the remarks while answering the question regarding the recently signed preferential trade agreement between Azerbaijan and Turkey, Trend reports.
Cooperation between the two countries in the economic and all other spheres is developing successfully, and fraternal Turkey is a reliable and active partner in energy and transport projects implemented on Azerbaijan’s initiative, Bashirov noted.
"One of the areas of economic relations is trade cooperation. Along with the fact that Turkey is one of our most important trade partners, it is also a key country for Azerbaijan’s non-oil exports. In 2019, the trade turnover between the two countries exceeded $4.5 billion, which is an increase by about 33 percent. The export volume amounted to $2.9 billion, which is 57 percent higher than the previous year," Bashirov said.
He went on to add that along with these indicators, there is a huge potential for growth in trade turnover.
In accordance with the socio-economic development strategy of President Ilham Aliyev, comprehensive and consistent measures for diversification of the non-oil sector, manufacturing of competitive products and promotion of exports, aim at increasing the trade turnover with Turkey, among other objectives, he added.
He emphasized that the target that was set for the future is to bring trade turnover with Turkey to $15 billion by 2023.
"The documents signed during the recent official visit of Turkish President Recep Tayyip Erdogan to Azerbaijan give an impetus to further expansion of cooperation between the two countries,” Bashirov said.
"The joint intergovernmental commission on economic cooperation between Azerbaijan and Turkey is a successful platform for expanding ties between the two countries. In addition, various mechanisms are used to develop the economic relations."
“In this regard, it would be useful to stress the role of developing ties between Azerbaijan’s Agency for Development of Small and Medium-Sized Enterprises and Turkey’s Small and Medium Enterprises Development Organization, associations represented by businessmen of the two countries, including the Turkish Independent Industrialists’ and Businessmen’s Association, the Turkey and Azerbaijan Businessmen and Industrialists Public Union and other associations as well as of conducting business forums and meetings with the participation of those entities," added Bashirov.
Bashirov also appreciated the role of the preferential trade agreement in the further expansion of trade relations.
"One of the documents signed between the two countries during the visit of Turkish President Erdogan to Azerbaijan is the preferential trade agreement. This important document plays an exceptional role in terms of further development of trade relations between our states," he said.
The preferential trade agreement is a new mechanism for cooperation with Turkey. The document, which envisions mutual exemption of a number of goods from duties, is a strategic step in for the growth of non-oil exports. After the agreement comes into force, export of a number of agricultural and other Azerbaijani products to Turkey will have great benefits.
Currently, a customs duty from 10 to 150 percent of the value is applied to the Azerbaijani goods exported to Turkey. After the agreement comes into force, Azerbaijani products will be exported to Turkey duty-free within a certain quota. This, in turn, will increase the competitiveness of Azerbaijani products on the Turkish market and increase the interest of Azerbaijani entrepreneurs in entering the Turkish market.
The preferential trade agreement between Azerbaijan and Turkey will also significantly contribute to expanding the bilateral trade relations and diversifying the economy of the two countries including the area of goods and services.
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