Turkey to Invest $50 Million in Building Textile Factories in Karabakh

Turkish companies plan to invest $50 million in the construction of textile factories in Karabakh in the preliminary phase. This was announced by İlham Öztyürk, a representative of TÜMKIAD (Turkey's Businessmen Association) in Baku.

He noted that TÜMKIAD is active in many sectors, but the first investments will be made specifically in the textile industry.

According to Öztyürk, after discussions in Azerbaijan, regions will be selected for further work.

During the meeting held in Baku, issues related to reconstruction efforts in Karabakh and ensuring employment for the local population were discussed between the Turkish delegation and Azerbaijani representatives. At the end of the meeting, the parties signed a memorandum of understanding.