Turkey provides Nakhchivan with economic incentives

IĞDIR, Turkey
Published 29.10.2017 20:21

Economy Minister Nihat Zeybekci confirmed several economic privileges for the Nakhchivan Autonomous Republic of Azerbaijan on Saturday, including an incentive to businessmen to sell their products to Turkey tax free. Zeybekci announced the news at a press conference in eastern Igdir University alongside Nakhchivan Autonomous Republic Economy Minister Famil Seyidov and his Azerbaijani counterpart Shahin Mustafayev.

"We will offer one-sided generosity to allow Nakhchivan to sell more products to Turkey," he said. "We will make the purchase of 43 products from Nakhchivan like it was trade from inside our borders." He said that a trade volume of $120 million is expected with this move, adding that trade with the Nakhchivan Autonomous Republic, which is an exclave of Azerbaijan bordering Armenia, Turkey and Iran, will be done in Turkish liras.

According to an agreement reached between Turkey, Azerbaijan and the Nakhchivan Autonomous Republic, $200 million in trade volume will be created in the region.

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