Turkey, Economy

Turkey ratifies free trade deal with Azerbaijan

Agreement signed in February 2020

Gökhan Ergöçün   | 19.01.2021
Turkey ratifies free trade deal with Azerbaijan

Istanbul

ISTANBUL

Turkey ratified the free trade agreement with Azerbaijan on Tuesday, according to a notice issued in the Official Gazette.

The deal was signed on Feb. 25, 2020 in Azerbaijan's capital Baku.

Turkey and Azerbaijan's bilateral trade volume was around $2 billion last year, with Turkey's exports of $1.7 billion and imports of $300 million, according to the Turkish Statistical Institute data.

Turkey's main exports to Azerbaijan include machinery, mechanical appliances, and construction materials.

Turkey has over 20 free trade agreements currently. The country has signed a historical free trade deal with the UK most recently.

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