INVESTMENT COOPERATION IN THE CREATION OF OIL AND GAS TRADE AND ECONOMIC RELATIONS BETWEEN AZERBAIJAN AND TURKEY

Abstract

He sustainable development of the national economy is directly related to the introduction of domestic and foreign investment in the priority area of the state strategy. The article is devoted to scientific research of investment cooperation between Azerbaijan and Turkey in increasing oil and gas production, as well as the construction of international export pipelines. representing the country in international oil and gas agreements. The State Oil Company (SOCAR), in addition to other foreign companies, has investment cooperation with the Turkish company TRAO. The Azerbaijani-Turkish investment cooperation in the oil and gas sector contributed to the creation of trade and economic relations between the two friendly regional countries. The dynamically developing trade partnership between the two countries brings foreign exchange profits to the Oil Fund of the Republic of Azerbaijan, and also contributes to the differentiation of the energy import market to ensure Turkey's energy security. In recent years, with the completion of the construction of the Trans-Anataly (TANAP) gas pipeline and the introduction of products, the “STAR” oil refinery, built by Azerbaijan's investment in Turkey, successfully developing interstate trade relations bring high economic results. Thus, investment cooperation between Azerbaijan and Turkey has become the basis of oil and gas trade relations in the development and strengthening of brotherhood and friendship between the two regional countries.