Turkish President Recep Tayyip Erdogan's recent adoption of a law facilitating customs procedures for the Baku-Tbilisi-Kars railway project between Turkey, Georgia, and Azerbaijan holds significant implications for Azerbaijan's economy.
In an exclusive interview with Ednews, economic expert Eyyub Karimli highlighted that streamlining customs processes will inevitably drive down product costs, thereby reducing prices. Karimli emphasized the broader trade agreement inked between Turkey and Azerbaijan in 2021, aiming to elevate bilateral trade turnover to $15 billion. This pact encompasses diverse collaborations across sectors and bolsters logistics operations, including transit and transport enhancements.
The development of the Baku-Tbilisi-Kars railway will notably expedite customs procedures, fostering a conducive environment for increased trade turnover and price reductions. Karimli underscored the substantial trade potential between Turkey and Azerbaijan, suggesting that the law's implementation will unleash tangible economic benefits for both nations.
Farid Akhund