Azernews.Az

By Ayya Lmahamad

Azerbaijan's Azexport portal and Turkey's leading B2B platform Tradevalley have signed a memorandum of understanding, the Center for Analysis of Economic Reforms and Communications has reported.

Under the memorandum, a digital exhibition hall using virtual reality (VR) technology will be created for products made in Azerbaijan.

The agreement envisages that both parties will regularly exchange e-commerce information, trade requests and business proposals. At the same time, a special panel for Azexport will be provided on the Tradevalley portal and Azexport members will be able to use the Tradevalley portal free of charge for six months.

The agreement also provides for the organization of conferences, seminars and lectures on the development of e-commerce, e-logistics, e-customs and other services in both countries.

It should be noted that Azexport was created upon the order of the president “on the creation of a unified database of goods produced in Azerbaijan” dated September 21, 2016. The operator of the portal is the Center for Analysis of Economic Reforms and Communications of Azerbaijan. The portal provides information on Azerbaijani-made goods.

Azerbaijan and Turkey cooperate in various fields of economy and have jointly completed giant energy and infrastructure projects such as Baku-Tbilisi-Ceyhan, Baku-Tbilisi-Kars, and TANAP.

On June 15, Azerbaijan and Turkey signed the Shusha Declaration on Allied Relations, which focuses on defence cooperation, promoting regional stability and prosperity, and establishing new transportation routes.

In the first ten months of 2021, the trade turnover between Azerbaijan and Turkey amounted to $3.4 billion. The trade turnover between the two countries amounted to $4.1 billion in 2020.

The two countries set up a goal to bring the mutual trade turnover to $15 billion in 2023. It should be noted that so far, Turkey is Azerbaijan’s second-largest investor followed by the UK.

Additionally, Turkey was one of the first countries that expressed its interest and readiness to participate in the restoration of Azerbaijan’s liberated territories.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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