IGDIR, Turkey
Economy Minister Nihat Zeybekci on Saturday announced several economic privileges for the Nakhchivan Autonomous Republic of Azerbaijan, including an incentive to businessmen to sell their products to Turkey without taxes.
Speaking at a news conference in eastern Igdir University alongside his Azerbaijani counterpart Shahin Mustafayev and Nakhchivan Autonomous Republic Economy Minister Famil Seyidov, Zeybekci said Turkey was providing several economic privileges to Nakhchivan.
"We will make one-sided generosity to allow Nakhchivan to sell more products to Turkey," he said.
He added Turkey will buy several products from Nakhchivan like it was buying them from inside of Turkey.
"We will make the buying of 43 products from Nakhchivan like it was trade from inside of Turkish borders."
Trade volume of $120 million is expected to be opened to Nakhchivan with this move, Zeybekci said.
The Turkish minister added that trade with Nakhchivan will be done in Turkish liras.
According to an agreement reached between Turkey, Azerbaijan and Nakhchivan Autonomous Republic, trade volume worth $200 million will be created in the region.
Nakhchivan Autonomous Republic is an exclave of Azerbaijan bordering Armenia, Turkey and Iran.
Reporting by Deniz Cicek Palabiyik; Writing by Fatih Hafiz Mehmet
