Azerbaijan's trade turnover with Central Asian countries increased by more than 50 percent last year.

President Ilham Aliyev said this during his speech at the 8th Consultative Meeting of the Heads of State of Azerbaijan and Central Asia, Operativ Media reports.

The head of state emphasized: “Today, more than 400 companies with Central Asian capital are actively operating in our country. In recent years, Azerbaijan has established joint investment funds with Kazakhstan, Uzbekistan, and Kyrgyzstan. The capital of each of these funds amounts to hundreds of millions of dollars.”

The Azerbaijani President noted the need to more actively utilize the capabilities of these investment funds, primarily for implementing joint projects, establishing new production facilities, and expanding industrial cooperation. “We should not only increase mutual trade, but also invest together, produce, and enter foreign markets,” he added.