Turkey proposes Caspian Sea JV with Azerbaijan

Turkey’s Transport Minister, Luftu Elvan

Turkey proposes Caspian Sea JV: With the Baku-Tblisi-Kars railway set to increase cargo traffic across the Caspian Sea, Turkey’s Transport Minister Lutfu Elvan has suggested that his country set up a joint venture with Azerbaijan to rationalise and improve maritime transportation. “This issue of cooperation in the field of systematisation of transportation in the Caspian Sea] is a matter of negotiations with Azerbaijan, and we are ready to establish a joint venture, to which we can enter as a shareholder,” he said last week. Trade turnover between the two countries amounted to around $1.462bn in the first ten months of 2014, according to Azerbaijan’s State Statistics Committee. AzerNews