Invest News Detail
Sabah - Growing bilateral trade and increased tourism have opened a new chapter in cooperation between Türkiye and Azerbaijan. The two brotherly nations enjoy a fruitful relationship in commerce and tourism, thanks to the influx of tourists to Türkiye and the rise in the number of Azeri-owned businesses in the country.
Texnika, one of the top five banks in Azerbaijan, is the latest Azeri company to set up shop in Türkiye. The bank, with 200,000 individual customers, has opened an office in Istanbul and is likely to be followed by two more Azeri banks in the near future. Azeri companies account for 136 of the 2,179 companies established by foreigners in 2010, making businessmen from the Turkic nation the fourth largest group of foreign entrepreneurs in Türkiye last year.
Türkiye’s tourism industry also benefits from the close ties between the two countries, as the number of tourists from Azerbaijan increased by 45 percent in the first five months of 2011. Some 231,000 Azeri nationals visited Türkiye in the January-May period, up from last year’s 131,000.
The total number of Azeri visitors to Türkiye in 2010 stood at 436,000.