Turkey is leading investor in Azerbaijani non-oil sector

Turkey is the leading investor in the non-oil sector of Azerbaijan, head of the office of the Azerbaijani Ministry of Economic Development Samir Beliyev said at a Turkish-Azerbaijani conference on socio-economic development within globalization in Baku on Thursday, Trend reports.

Over a thousand Turkish companies operate in Azerbaijan. $2 billion has been invested in Azerbaijan since 2002.

Metin Eker, head of the main office for foreign economic links of the Turkish state organization for planning, said that trade turnover between the two countries reached $2.5 billion in 2010, compared with $800 million in 2005.

Azerbaijan invested $3 billion in Turkey, mainly in the petrochemical industry and tourism. Turkey invested $6 billion in Azerbaijan, Eker said.

Turkish companies signed contracts on 237 facilities in Azerbaijan.

Reports on topics of economic models used by the Turkish state organization for planning, issues of balanced models in strengthening science basis of socio-economic policy, management and monitoring of investment programs and fighting poverty were presented at the conference.