Turkey
Azerbaijan, Turkey and Georgia Discuss Simplified Customs Procedures on Middle Corridor
The 5th meeting of the Trilateral Customs Commission was held in Goygol District. The parties signed a protocol on agreements.
BİM Establishes Dost Participation Bank with 10 Billion Lira Capital
Turkish retailer BİM has completed the establishment of Dost Katılım Bankası A.Ş. with a registered capital of 10 billion Turkish lira and has applied to the BDDK for an operating license.
PASHA Bank Has No Plans to Buy Banks, Focuses on Azerbaijan-Turkey-Georgia Trade
PASHA Bank Deputy Chairman Bahruz Naghiyev said the bank has no plans to acquire local or foreign banks. Its main strategy is financing trade between Azerbaijan, Turkey and Georgia.
OTS Countries to Create Unified Digital Economic Platform
A digital partnership agreement has already been signed, with the parliaments of Azerbaijan, Turkey and Uzbekistan having ratified it. The process continues in other countries.
Azerbaijan: Zangezur Corridor 95% Complete by Road, 75% by Rail
Azerbaijani Foreign Minister Jeyhun Bayramov provided an update on the Zangezur Corridor. Completion of the projects is planned for the first half of 2027.
Erdogan May Visit Syria Soon
Turkish Foreign Minister Hakan Fidan announced preparations for President Erdogan's visit to Syria following talks in Damascus.
SOCAR and TPAO Expand Energy Partnership into New Projects
Azerbaijan's SOCAR and Turkey's TPAO are working on new projects in Azerbaijan, Turkey and third countries, Turkish Energy Minister Alparslan Bayraktar said.
Azerbaijan and Turkey Expand Energy Cooperation
At the 5th Azerbaijan-Turkey Energy Forum in Baku, the sides identified new areas of cooperation, including green energy and digitalization.
Azerbaijan to Link Nakhchivan to Its Power Grid via Zangezur Corridor
Azerbaijan's Energy Minister Parviz Shahbazov said the Zangezur energy corridor will expand prospects for cooperation in the electricity sector. In the initial phase, 1 GW of electricity is planned to be exported from Nakhchivan to Turkey.
STAR Refinery Diesel Output Up 6.1% in June, LPG Surges 5.5-Fold
In June 2026, SOCAR's STAR refinery increased diesel production by 6.1% and LPG by 5.5 times, while reducing output of jet fuel, naphtha, and coke.
How Turkey attracts workers from Central Asia amid tightening in Russia
Labor migration from Central Asia to Russia fell by 15% in 2026. Turkey is creating institutional conditions to attract workers from Turkic states, offering an alternative to the Russian labor market.
Turkey may lose up to $20 billion due to Black Sea attacks
Turkey could lose up to $20 billion in three months if attacks on ships in the Black Sea continue. The number of vessels passing through Turkish straits has sharply declined.
Azerenergy Completes First Stage of Zangezur Power Line
Azerenergy is completing the first stage of the Zangezur power line, which will connect Nakhchivan to Azerbaijan's main power grid and become part of the Azerbaijan-Nakhchivan-Turkey-Europe international corridor.
Foreign Direct Investment in Georgia Up 19.3% in 2025
Foreign direct investment in Georgia reached $1.9 billion in 2025, up 19.3% from the previous year. The UK led as the top investor.
ADB to Provide $50 Million for Green Projects in Turkey via Yapı Kredi Leasing
The Asian Development Bank has signed an agreement with Yapı Kredi Leasing to finance renewable energy and sustainable development projects in Turkey.
Erdogan: EU membership is not a priority for Turkey
Turkish President Recep Tayyip Erdogan said that EU membership is not a priority for Ankara, and Europe will lose by refusing to accept the republic into the union.
Russia Requests Clarifications from US and Turkey on Arms Supplies to Ukraine
Russia has requested clarifications from Washington and Ankara regarding possible US-Turkish arms supplies to Ukraine, said Maria Zakharova.
SOCAR's 2025 Sales Revenue Reaches 86.3 Billion Manats
SOCAR's sales revenue in 2025 totaled 86.3 billion manats, with 58.6% coming from Switzerland. Revenue in Turkey grew by 71.1%, and in Azerbaijan by 66.7%.
IRU and Partners Discuss Accelerating Freight at Turkey's Borders with Azerbaijan and Iran
The International Road Transport Union (IRU), together with Turkish and Iranian carrier associations, explored ways to speed up freight transportation and improve border procedures at key checkpoints.
Georgia Advocates Stronger Ties with Azerbaijan and Turkey
Georgian Prime Minister Irakli Kobakhidze stressed the need to strengthen strategic ties with Azerbaijan and Turkey, including regional connectivity.
Azerbaijan and Turkey Discuss Simplifying Customs Procedures on Middle Corridor
At a meeting with a Turkish delegation, discussions focused on simplifying customs procedures and accelerating cargo transportation along the Middle Corridor.
Turkey Proposes Russia and Ukraine Mechanism to Protect Ships in Black Sea
Ankara has proposed that Moscow and Kyiv create a special mechanism to prevent attacks on commercial vessels in the Black Sea, according to Turkish Foreign Minister Hakan Fidan.
Turkey Restricts Commercial Vessel Passage in Black Sea
Turkey restricts commercial vessel passage in the Black Sea due to attacks on ships in the region, Bloomberg reports.
PAŞA Yatırım Bankası Net Profit Down 30.7% in H1
PAŞA Yatırım Bankası (Turkey) reported net profit of 192 million liras for H1, down 30.7% year-on-year.