Turkey ratifies free trade agreement with Azerbaijan

Turkey has ratified the free trade agreement with Azerbaijan, according to Turkish media. 

The reports said that the agreement was signed Feb. 21, 2020 and ratified by Turkey on Tuesday, Jan. 19, 2021.

On Sept. 2019, Ministry of Trade of Turkey Ruhsar Pekcan said that the trade turnover between the two countries made up $4.4 billion, but this figure doesn’t reflect the true potential of the two countries, and the goal is to increase the trade turnover.

The Turkish minister noted then that Turkey aims to sign ‘Agreement on a free trade with Azerbaijan’.

“Due to the coronavirus (COVID-19) pandemic, Turkey has faced difficulties in cargo transportation to Central Asia through Iran. Therefore, the Georgia-Azerbaijan-Caspian direction has become even more important,” she added.


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