Azerbaijan Trade Agreement

After a meeting with Azerbaijani Parliament Speaker Sahibe Gafarova in Ankara, the capital, Ruhsar Pekcan said: “We want to increase our trade with Azerbaijan. Our goal is to sign a free trade agreement with Azerbaijan. She found that the volume of bilateral trade between the two countries amounted to $4.4 billion in 2019 and said this figure was far from reflecting the true potential of both countries. Turkey has notified the WTO of 22 free trade agreements, all of which are active. The main ones of these agreements are the customs union with the EU and the free trade agreements with South Korea, Malaysia and EFTA. 42% of Turkey`s total imports come from countries with which it has SAAs. In return, 48% of total exports from Turkey are destined for RTA partners. Turkey and Azerbaijan are currently negotiating an RTA.