Azerbaijan, Turkey may use national currencies in trade turnover

  08 December 2016    Read: 1516
Azerbaijan, Turkey may use national currencies in trade turnover
Turkey has started negotiations with Azerbaijan, Georgia, Kyrgyzstan and Iraq to use national currencies in trade turnover, AzVision.az reports citing Turkish media.
Turkish president Recep Tayyip Erdogan earlier applied to the leaders of Russia, Iran and China to use national currencies in the trade turnover. According to him, the counterparts supported this proposal. Turkish president thinks this step will prevent rise of dollar and cause national currencies’ value to increase.

Several countries will reportedly use national currencies in trade turnover since the first half of 2017.

According to the outcomes of ten months of 2016, the trade turnover between Azerbaijan and Turkey made $1,826,861,840. Export from Azerbaijan to Turkey amounted to $1.3 billion, from Turkey to Azerbaijan – to $954 million.

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