Azerbaijan and Turkiye have signed a memorandum of understanding on cooperation in the space sector, Azernews reports.

The document was signed between the Azerbaijani satellite operator Azercosmos OJSC and the Turkish Space Agency within the framework of the 73rd International Astronautical Congress in Paris, France, on September 18-22.

The memorandum provides for boosting cooperation in remote Earth observation and technology development, as well as the expansion of mutually beneficial, and knowledge-sharing programs to evaluate commercial and educational opportunities in the space sector.

Moreover, the document will contribute to the joint activities of Azercosmos and the Turkish Space Agency in international space projects, active cooperation in the development of the local space ecosystem, space science, and other areas.

A delegation from the Azerbaijani Digital Development and Transport Ministry and Azercosmos is taking part in the congress. In addition, Azerbaijan will host the 74th International Astronautical Congress in 2023.

Azerbaijan and Turkiye collaborate in a variety of economic sectors and have completed major energy and infrastructure projects, such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Kars, and TANAP.

In 2021, Azerbaijan and Turkiye signed the Shusha Declaration on Allied Relations, which focuses on defense cooperation, promoting regional stability, prosperity, and establishing new transport routes.

The two countries set up a goal to bring the mutual trade turnover to $15 billion in 2023. As of 2021, the trade turnover between the two countries amounted to $4.6 billion. So far, Turkiye is Azerbaijan’s second-largest investor followed by the UK.

Additionally, Turkiye was one of the first countries that expressed its interest and readiness to participate in the restoration of Azerbaijan’s liberated territories.