OREANDA-NEWS.  February 20, 2012. Georgia-Azerbaijan-Turkey Business Forum organized by the Ministry of Economic Development, Azerbaijan Export and Investment Promotion Foundation (AZPROMO), Union of Chambers and Commodity Exchanges of Turkey and "Invest in Georgia" National Investment Agency of Georgia held on February 16 in Tbilisi.

The initiative of organization of 1st triple-sided business forum among Georgia-Azerbaijan-Turkey was proposed by the President of the Republic of Azerbaijan Mr. Ilham Aliyev.

Within the framework of the visit Azerbaijani delegation commemorated National Leader Heydar Aliyev, laid a wreath at his bust.

Along with officials from Azerbaijan, Turkey and Georgia, businessmen operating in agriculture, construction, tourism, textiles, energy, real estate and pharmaceuticals sector participated in the forum.

Georgian Economy Minister Vera Kobalia expressed her gratitude for organizing this business forum in Tbilisi and highlighted that the relations among Azerbaijan, Georgia and Turkey will further develop.

Azerbaijani Economic Development Minister Shahin Mustafayev stressed that economic potential of the countries, favorable geographical position, great transit opportunities, as well as implemented transnational projects such as Baku-Tbilisi-Jeyhan, Baku-Tbilisi-Erzurum, Eastern-Western transport corridor turned this region into necessary factor of efficient economic cooperation between Europe and Asia. It was noted that energy resources of Azerbaijan and the Central Asian region is transported to European markets via Georgia and Turkey, the countries play an important role in ensuring energy security of Europe, and this increases the significance of the region. Minister Mustafayev stressed that regional cooperation of Azerbaijan-Georgia-Turkey is an example to the world countries, Azerbaijan attaches great importance to the development of political and economic relations with Georgia and Turkey, as a result of the efforts of the heads of the states these ties reached the level of strategic partnership. It is not a coincidence that the National Leader of Azerbaijan Heydar Aliyev characterized the Azerbaijani-Turkish relations as "We are one nation, two states". When it comes to speak about the Azerbaijan-Georgia relations, the President of the Republic of Azerbaijan Mr. Ilham Aliyev noted that strategic friendship and allies between Azerbaijan and Georgia became very important factor.

A firm legislative base was established between Azerbaijan, Georgia and Turkey. The intergovernmental commissions between the countries play an important role in enhancing cooperation.

Azerbaijani companies have invested USD 800 million in Georgia in the past five years. "SOCAR Georgia Petroleum" subsidiary company of SOCAR was the largest taxpayer in the field of oil products in Georgia in 2010 and 2011, as well as became the greatest investor in Georgia with the investment worth USD 32 million last year. Generally, over the last 5 years the company invested USD 700 million into the economy of Georgia. 272 Azerbaijani companies were registered in the country, which have opened 7,000 jobs there. 106 companies were established in Azerbaijan by means of Georgian investments. Trade turnover between Azerbaijan and Georgia increased by 36% in 2011.

SOCAR and other Azerbaijani companies allocated investment in the amount of USD 4.5 billion to Turkey. 967 Turkish companies in Azerbaijan and 844 Azerbaijani companies were registered in Turkey. Trade turnover between Azerbaijan and Turkey increased by 87% in 2011.

Moreover, there are Azerbaijani Businessmen Unity in Turkey, Azerbaijan-Turkey Businessmen Unity and International Organization of Azerbaijani-Turkish Industrialists and Businessmen in our country, Azerbaijan Business Unity and the representation of AZPROMO in Georgia, and every year business forums, business-like meetings are held among the countries. All of these have a great importance in the development of the relations among businessmen.

Along with this, there is a great potential for further development of the cooperation in various fields of economy of the countries. The discussed issues and bilateral negotiations within the framework of the business forum will pave the way to further development of the economic-commercial relations among 3 countries and allow expanding business-like ties among the businessmen.

The Minister Shahin Mustafayev gave information on the achieved successes as a result of economic development strategy pursued successfully by the President of the Azerbaijan Republic Mr. Ilham Aliyev.

The Minister Mustafayev proposed to organize the next forum in the trilateral format in Azerbaijan in the future.

Turkish Economic Minister Zafer Chaglayan delivered information on the opportunities of further development of current economic relations and cooperation among neighbouring countries.

The president of the Georgian Trade and Industry Chamber Kakha Baindurashvili made a presentation on the business climate and investment potential of his country, the president of AZPROMO Adil Mammadov on the business and investment opportunities of our country,
the Head of UCCET Rifat Hisarchiklioglu, the chairman of Turkey-Georgia Business Council Cemal Inaishvili, other chairman of the council Tugrul Erkin on economic-commercial ties among countries in the forum.

The business forum was followed by bilateral meetings among businessmen.

President of the Republic of Georgia Mikheil Saakashvili received the Minister of Economic Development Shahin Mustafayev and Economic Minister of Turkey Zafer Chaglayan.

President of the Republic of Georgia Mikheil Saakashvili stressed special role of Azerbaijan in the development of the regional cooperation and appreciated Azerbaijani-Georgian relations, and highlighted that President of the Azerbaijan Republic Mr. Ilham Aliyev was the historical person for Georgia.

The perspectives of further expansion of economic relations were discussed at the meeting. Azerbaijani delegation headed by the Minister of Economic Development Shahin Mustafayev held some meetings within the framework of the visit.

The relations among countries, the opportunities of boosting cooperation in the various fields of economy were discussed at the meetings held by the participation of Economic Minister of Turkey Zafer Chaglayan, Georgian Economy Minister Vera Kobalia and the president of the Union of Chambers and Commodity Exchanges of Turkey Rifat Hisarchiklioglu.

The Minister of Economic Development Shahin Mustafayev met Azerbaijani businessmen operating in Georgia and exchanged viewpoints on the issues interested them.