The long-awaited Zangezur Corridor in Azerbaijan, is set to become a vital transit artery—integrating the Turkic world and revitalising the Middle Corridor trade route stretching from the Far East to Europe according to Türkiye's Trade Minister Omer Bolat.
He made the comment at the Azerbaijan–Türkiye Economic and Cultural Relations Bridge programme in Ankara on Wednesday, saying that Baku's role is an important key partner for Ankara's outreach to Asia.
"As of the first eight months of this year, our trade volume has been improving. Investments, in particular, are very important," explained Bolat.
"Türkiye's largest investment in the world, in terms of the number of businesspeople and companies, is in Azerbaijan. Our largest investment, worth 17 billion dollars, is also in Azerbaijan. Azerbaijan also has approximately 3,000 companies in Türkiye," he added.
Bolat said economic ties between the two countries have grown steadily during his tenure, with energy, infrastructure, and technology sectors leading the way.
The opening of the trade route is expected to transform regional connectivity, further solidify economic integration between Ankara and Baku, and expand trade flows along the East-West axis.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for the 10th of December, covering the latest developments you need to know.
The world’s leading minds and voices will be honoured on Wednesday, 10 December, the anniversary of Alfred Nobel’s death, as Nobel Prizes are presented in Stockholm and Oslo.
The United Nations Security Council has issued warnings about the rapidly worsening humanitarian crisis in Ukraine, citing a sharp surge in civilian casualties amidst Russia's intensified aerial attacks, marking the deadliest period of the war in more than a year.
Authorities in Japan lifted all tsunami warnings on Tuesday following a strong 7.5-magnitude earthquake that struck off the northeastern coast late on Monday, injuring at least 30 people and forcing around 90,000 residents to evacuate their homes.
Scores of demonstrators gathered outside the Norwegian Nobel Institute in Oslo Tuesday (9 December) to protest against the awarding of this year’s Nobel Peace Prize to Venezuelan opposition leader Maria Corina Machado.
Pressure is mounting between Venezuela and the United States as both nations emphasise military preparedness and strategic positioning.
Tehran has protested to Washington because of the travel ban on its football team delegation as well as Iranian fans who would like to travel to the United States for the upcoming World Cup matches in 2026.
Paramount Skydance (PSKY.O) has launched a $108.4 billion hostile takeover bid for Warner Bros Discovery (WBD.O). The escalation follows a high-stakes battle that had appeared to end last week when Netflix secured a $72 billion deal for the studio giant’s assets.
Türkiye’s Minister of Energy and Natural Resources, Alparslan Bayraktar, outlined the country’s energy and gas sector developments at the 15th Türkiye Energy Summit in Istanbul, moving away from its dependence on Russian energy.
A second aid ship carrying 10,080 tents provided by Türkiye's Disaster and Emergency Management Authority (AFAD) is on its way after departing from Mersin International Port in the south of the country on 6 December to help address the ongoing humanitarian crisis in Sudan.
Iran and Saudi Arabia reiterated their commitment to enhance ties following a joint meeting with China in Tehran on Tuesday to follow up on implementation of the 2023 Beijing Agreement which resulted in resumption of their diplomatic relations after eight years.
Kazakhstan has begun redirecting part of its crude exports, sending oil from the Kashagan field to China for the first time.
Azerbaijan and Slovakia are set to strengthen bilateral ties and cooperation as President Ilham Aliyev meets Richard Raši, Speaker of the National Council of the Slovak Republic on Tuesday, 9 December.
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