Baku hosts 3rd Black Sea Trade and Investment Forum

Today in Baku within the Parliamentary Assembly of the Black Sea Economic Cooperation summit in Hilton Hotel Baku there is III Black Sea Trade and Investment Forum. The forum is attended by representatives of the business circles of the 12-member organization.

The ceremony on the occasion of the Forum was attended by Secretary General of BSEC Cyril Tretiak, chairman of the Grand National Assembly of Turkey, Cemil Cicek, the deputy chairman of the Milli Majlis Ziyafet Asgarov and other officials, who praised the role of regional economic co-operation in the well-being and stability in the Black Sea pool.

Chairman of the Confederation of Businessmen and Industrialists of Turkey (TUSKON) Rzanur Meral said that at the level of foreign trade with the countries of the Black Sea $ 35 billion, Turkey sets out to bring it in the near term to $ 100 billion

Chairman of the Association of Turkish Businessmen and Industrialists (TUSIAB) Murat Bagir spoke about trade and economic relations between Turkey and Azerbaijan. According to him, Turkish companies have invested in the oil sector $ 3.5 billion and in the non-oil sector investment reaches $ 4 billion. TUSIAB representative said Azerbaijan is also investing in the Turkish economy. Today, the volume of investments is $ 4.5 billion and by 2018, this figure could reach $ 17 billion. The trade turnover between the two countries in 2011 amounted to $ 3.5 billion. The goal is to bring this figure up to $ 5 billion in 2015.

The business forum is attended by representatives of 120 companies from Turkey, 300 Azerbaijani companies and 20 companies from other countries of the Black Sea Basin.

- 08C-