Union of Chambers and Commodity Exchanges of Turkey

In his speech, Hisarcıklıoğlu said that Azerbaijan, with its rapidly developing economy, offers attractive business and investment opportunities.

Stating that Azerbaijan has become the region’s trade and cultural center and a tourist destination, Hisarcıklıoğlu said, “Azerbaijan liberated Nagorno-Karabakh from 32 years of occupation and freed its lands. An opportunity has arisen for lasting peace and tranquility in the region. Now that area is being rebuilt after the war, creating new opportunities for our companies. Together with our Azerbaijani brothers, we are ready to do our part for the development of the region and the establishment of lasting peace there.”

Hisarcıklıoğlu emphasized that the Zengezur Corridor, which will connect Nakhchivan and Baku, will greatly contribute to the development of trade in the region.

- “It is very important to have more Ro-Ro ships in the Caspian Sea.”

Hisarcıklıoğlu stated that trade with Azerbaijan, outside of energy, is well below its potential and that the potential in the transportation and energy sectors also needs to be developed. He noted: “The Baku-Tbilisi-Kars railway line is essentially one of the most concrete examples of this. However, in order to get higher efficiency from this line, the renovation work needs to be completed urgently. Similarly, work on the Kars-Nakhchivan railway project must be completed quickly. Increasing the capacity of TANAP and transferring Turkmenistan’s Caspian natural gas to Türkiye and Europe, as well as making more effective and efficient use of Trans-Caspian transit routes, are also among our priorities. Having more Ro-Ro ships in the Caspian is very important. Unfortunately, a poorly functioning logistics network holds us back.”

Hisarcıklıoğlu said that the trade volume has been increasing every year and is progressing towards the target of $15 billion.

Hisarcıklıoğlu pointed out that Azerbaijan is one of the countries with the highest volume of Turkish investments, with an investment volume of approximately $17 billion, saying, “The Preferential Trade Agreement between our countries entered into force on March 1, 2021. In 2024, with an additional protocol, new products were added to the scope of the agreement. Nevertheless, the current scope is still insufficient. Therefore, we now need to discuss a new generation of FTAs that enable more comprehensive economic integration.”

Hisarcıklıoğlu suggested utilizing the Organization of Islamic Cooperation Arbitration Center to attract investors to both countries, stating, “In addition, customs procedures need to be standardized and border crossings need to be expedited. Although there have been improvements in this regard, we must establish common standards for customs procedures and make the processes simpler and faster.”