A comprehensive article on Azerbaijan’s economic and investment opportunities has been published in Turkey’s “Business Diplomacy” magazine, issued by the Foreign Economic Relations Board of Turkey.
According to EDnews the article titled “Azerbaijan-Land of Opportunities” is based on information provided by Azerbaijan’s Trade Representation in Turkey.
The article highlights that Azerbaijan offers a wide range of opportunities through free trade agreements, tax incentives, and long-term financial instruments. With its rich history and culture, Azerbaijan has become an attractive hub for businesspeople thanks to its strategic advantages, rapidly developing modern economy, and comprehensive incentive mechanisms. These incentives, including tax benefits and state support, create a promising long-term investment environment for investors.
Published under various subheadings such as “Strategic Location and Transport Network”, “Robust Economic Structure and Favorable Investment Climate”, “Access to a Market of 280 Million People”, and “Investor-Friendly Policies and Incentives”, the article emphasizes that Azerbaijan’s position on the North-South and East-West transport corridors, including the Middle Corridor, provides significant access to regional and international markets through its air, sea, land, and railway infrastructure.
Between 1995 and 2023, total investments in Azerbaijan exceeded 341 billion USD, of which 171 billion USD were foreign investments. Moreover, since 2015, the exchange rate between the Azerbaijani manat and the US dollar has remained stable at 1.7, supporting economic stability. Through its free trade agreements with 10 countries, Azerbaijan offers direct access to a market of 280 million people.
The country’s “Law on Investment Activity” ensures the rights and freedoms of investors while offering various incentive mechanisms. Investors operating in industrial parks, industrial zones, and free economic zones benefit from extensive tax and customs exemptions. Additionally, Azerbaijan offers various financial support mechanisms and broad project opportunities across different sectors.
The article also notes that under the Preferential Trade Agreement signed between Azerbaijan and Turkey, customs-free trade opportunities have been created for 30 types of products. Necessary regulatory adjustments are being implemented to develop border trade, facilitate communication and cooperation between entrepreneurs, and accelerate transit passages.
It is also mentioned that Azerbaijan currently has trade representations in five countries. These representations work to expand Azerbaijan’s economic and trade relations with those countries, promote the export of goods and services, and enhance awareness of Azerbaijan’s business environment and investment potential. Operated under the structure of the Ministry of Economy, the trade representations work closely with Azerbaijan’s embassies and consulates in host countries.
One such representation has been operating in Istanbul, Turkey one of Azerbaijan’s largest economic and trade partners since June 2023. Operating under the slogan “If you’re thinking about foreign investment, come to Azerbaijan, a country you already know”, this office works not only to attract Turkish business people as investors to Azerbaijan, but also to promote Azerbaijani goods and services in Turkey and stimulate their export.
It should be noted that “Business Diplomacy” magazine, published in both print and digital formats, is one of Turkey’s most reputable publications.
Madina Mammadova\\EDnews
