The Second Azerbaijan-Trkiye Investment Forum is being held in Baku with the joint support of Azerbaijan’s Ministry of Economy and Trkiye’s Ministry of Trade, and is co-organized by the Azerbaijan Export and Investment Promotion Agency (AZPROMO) and the Trkiye-Azerbaijan Businessmen and Industrialists Public Association (TÜIB). Bringing together senior government officials, business leaders, and investors from both countries, the forum aims to deepen economic cooperation and advance the strategic goal of increasing bilateral trade and investment.
On the sidelines of the forum, Hseyin Bykfirat, Chairman of the Trkiye-Azerbaijan Businessmen and Industrialists Public Association (TÜIB), gave a special interview to Azernews, discussing the outcomes of the event, the future of bilateral economic relations, and key sectors offering new investment opportunities for Turkish and Azerbaijani companies.
Q: How would you assess the Second Azerbaijan-Trkiye Investment Forum? Did it meet your expectations?
The chairman said the forum exceeded expectations both in terms of participation and substance. He noted that a large number of prominent business leaders from Azerbaijan and Trkiye attended the event, which clearly demonstrated the growing interest of the private sector in bilateral cooperation.
‘The first forum was already very successful, but I can confidently say that the second one was even better,’ he stated. According to him, the participation of high-level officials – including the Vice President of Trkiye, ministers, deputy ministers, and senior representatives from Azerbaijan – was a strong indication that the two countries are moving in the right direction.
He emphasized that such a high-level turnout also increases responsibility for business circles. ‘It shows that we are on the right path, but it also places greater responsibility on us to deliver concrete results,’ Bykfirat added.
Q: The leaders of both countries have set a target of reaching a bilateral trade volume of USD 15 billion. How realistic is this goal from the perspective of the business community?
Bykfirat noted that the business community fully embraces the strategic target set by President Ilham Aliyev and President Recep Tayyip Erdogan. He underlined that while governments create the framework, achieving this goal ultimately depends on entrepreneurs, industrialists, exporters, and investors.
‘As businesspeople, we see it as our duty to contribute to this target,’ he said. Mr. Bykfirat added that he personally draws on his long-standing trade experience in Azerbaijan to support this objective. ‘Fortunately, we are already seeing tangible results, and I believe this cooperation will grow even stronger in the coming years,’ he noted.
Q: In your view, what are the future perspectives of Azerbaijan-Trkiye economic cooperation, and which sectors stand out for investment?
According to him, global supply chains are being reshaped due to geopolitical shifts and logistical constraints, opening new opportunities for Azerbaijan. He explained that emerging transport corridors and Azerbaijan’s strategic location have created favorable conditions for investors.
He also highlighted Azerbaijan’s customs advantages, particularly zero-duty arrangements with certain countries. ‘These incentives make Azerbaijan highly attractive not only for Turkish investors but also for companies from third countries,’ he said, adding that targeted efforts are needed to fully leverage these opportunities.
Bykfirat further pointed out that the Garabagh region offers significant state support and investment incentives. He emphasized that promoting these opportunities effectively is a shared responsibility of business associations, public institutions, and the media.
Q: How can Turkish companies take a more active role in these projects, and which areas could generate new business opportunities for the region?
Bykfirat noted that the construction sector already plays a major role, particularly in Garabagh. Referring to official statements, he said that projects exceeding USD 5 billion are currently underway in the region, indicating strong momentum in infrastructure development.
Beyond construction, he highlighted agriculture as a promising field with long-term potential. However, he placed special emphasis on the textile industry. ‘Trkiye is currently experiencing a contraction in the textile sector, with some production shifting to third countries such as Egypt and parts of Africa,’ he explained.
In this context, Mr Bykfirat believes that relocating part of this production to Azerbaijan, especially to Garabagh, could be mutually beneficial. ‘If attractive and well-structured incentives are introduced, Azerbaijan could become a new hub for textile investment,’ he said, adding that this would create jobs, boost exports, and further strengthen economic ties between the two countries.