Turkish companies to invest $50 million in Karabakh textile sector

At the initial stage, Turkish companies plan to invest $50 million in the construction of textile factories in the liberated territories of Azerbaijan, chairman of the Board of TÜMKİAD Ilham Ozturk, who is on a visit to Baku, said.

He noted that the structure he leads functions in many areas, but initially, is planned to invest in the textile sector.

Ozturk added that after discussions in Azerbaijan, it will be determined what work will be carried out in other sectors.

A meeting between the Turkish delegation led by Ozturk, and representatives of the National Confederation of Entrepreneurs (Employers’) of Azerbaijan was held in Baku on Jan. 21.

In the course of the meeting, the sides discussed issues related to reconstruction work in Azerbaijan's liberated lands, providing employment for people who will live there.

At the end of the meeting, a memorandum of understanding was signed between TÜMKİAD and the National Confederation of Entrepreneurs (Employers) of Azerbaijan.