Azerbaijan and Turkey work on establishing joint enterprise

Preliminary work has begun to set up one of the four enterprises to be opened by Azerbaijan and Turkey, Sakina Babayeva, director of Baku Textile Factory LLC, told Report.

She said that a business plan of the enterprise is being prepared: "Specialists from Turkey have arrived in Azerbaijan. They met and held discussions with officials of the Entrepreneurship Development Fund under the Ministry of Economy."

Babayeva reminded that these enterprises would be set up in Sumgayit Chemical-Industrial Park.

According to her, the Turkish side has begun work on producing necessary equipment for the plant: "The plant's construction is expected to start in two months. The first enterprise to be established will be in the garment processing industry.

A Turkish-Azerbaijani business forum took place in Ankara on February 18 this year. As part of the business forum, an agreement was signed between Baku Textile Factory LLC and Baku Orme Kumash Sanaye ve Ticaret LTD and between Beteks, a subsidiary of Baku Textile Factory LLC, and Kochaklar Tekstil, a Turkish company. According to the agreements, Azerbaijan and Turkey will establish four joint enterprises.