Union of Chambers and Commodity Exchanges of Turkey

Businessmen of the Turkic world met in Shusha for the reconstruction of Karabakh

16.09.2022 / Shusha / Karabakh

The Union of Chambers and Commodity Exchanges of Türkiye (TOBB) and Turkic Chamber of Commerce and Industry President M. Rifat Hisarcıklıoğlu stated that Azerbaijan, whose economy is developing rapidly, offers attractive business and investment opportunities at the Turkic Business World Forum, which includes businesspeople from Türkiye, Azerbaijan, Kazakhstan, Kyrgyzstan, Uzbekistan and Hungary.​

Hisarcıklıoğlu, stating that after the Second Karabakh War, a great opportunity for permanent peace and tranquility emerged in the region, continued as follows: “Together with our Azerbaijani brothers, we, as the Turkic world, are ready to do our part for the development of the region and the strengthening of peace. We are here once again for this message of cooperation and support. Now it is up to us to make Karabakh and Shusha a shining star like Baku and other Azerbaijani cities.”

Emphasizing that Karabakh should be made a center of attraction from agriculture to tourism, food, industry to informatics, Hisarcıklıoğlu said that the Zangezur Corridor, which will connect Nakhchivan and Baku, will make great contributions to the development of trade.

Hisarcıklıoğlu, reminding that as the Turkic world, they have an economic size of 1.1 trillion dollars, a foreign trade volume of 560 billion dollars and a population of 160 million, said, “These figures alone show how we can turn into a great global power when we come together. To mobilize this power, we must first increase the economic integration between us. This will be possible with more trade,” he said.

Hisarcıklıoğlu said that in order to increase trade, preferential and free trade agreements should be signed between countries, an arbitration facility at international standards should be provided to attract investors and customs crossings should be accelerated, and said: “We should use a very important and less costly transit point such as the Caspian Sea more actively. We need to start the construction of the Trans-Caspian Natural Gas Pipeline as soon as possible. We should also remove the transit quotas for each other. Brothers do not put quotas on each other. More trade is driven by more entrepreneurs and a stronger private sector. We also need strong chambers to develop entrepreneurship and the private sector in our countries. Türkiye has significant achievements and experience in this regard. We are ready to share them with you. Please let us coordinate our chamber reform efforts. TOBB is also ready to mobilize all its opportunities in this regard. Everything is for our brothers.”

- Other speakers

Azerbaijani Minister of Agriculture Inam Kerimov stated that the new roads built in the regions liberated from occupation will expand Azerbaijan's logistics capabilities, and friendly and brotherly countries will also benefit from these opportunities. Pointing to the agricultural and investment opportunities of Karabakh and the Eastern Zangezur region, Karimov said, “The possibilities of cooperation with foreign investors are myriad. I call on business people to evaluate real investment opportunities.”

Organization of Turkic States (TDT) Secretary General Baghdad Amreyev said that he is confident that the Turkic states will cooperate in the reconstruction of Karabakh, which has been occupied and destroyed for 30 years. Amreyev stated that the region has great potential and that this route can be used by TDT member countries after the opening of the Zangezur Corridor and said, “Today, we are together in Shusha to show that I will take part in the reconstruction and reconstruction of Karabakh.”

Azerbaijani Deputy Minister of Economy Sahib Mammadov also referred to the industrial potential of the regions liberated from occupation and the industrial parks established here, calling on businessmen to invest.

Chairman of the National Confederation of Entrepreneurs of Azerbaijan (ASK) Mammad Musayev thanked the businessmen of brotherly countries who showed their will in the construction of Karabakh on behalf of Azerbaijani businessmen.

Orhan Mammadov, Chairman of the Board of Directors of the Agency for the Support of Small and Medium Entrepreneurship (SME), stated that productive investment opportunities were provided for both domestic and foreign businesspeople in the regions liberated from occupation. Mammadov reported that 1300 companies have applied for investment in the areas liberated from the occupation, 460 of which are foreign companies from about 40 different countries.

After the opening speeches, the forum continued with the panel titled “Investment opportunities in Karabakh and the Eastern Economic Region” and bilateral business meetings.

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