Turkish and Azerbaijani Ministers to meet in joint cabinet session in Izmir
The first meeting of a High-Level Strategic Cooperation Council established between Turkey and Azerbaijan last year is scheduled to kick off in Izmir next week with the attendance of a large number of ministers from both countries at a joint Cabinet session. Turkey is set to hold a joint session for Turkish and Azeri ministers from Oct. 25 to 26 under the chairmanship of Azeri President Ilham Aliyev and Turkish Prime Minister Recep Tayyip Erdogan in Izmir.
Erdoğan and Aliyev will also be attending the groundbreaking ceremony of a new Izmir refinery at an estimated investment worth of $5 billion, a joint initiative of national Azeri oil company State Oil Company of the Azerbaijan Republic (SOCAR) and its Turkish partner, Turcas. The Azeri share in the new refinery to be built on Petkim field is 75 percent, and it is planned to be functional in 2015 and help reduce Turkey's current account deficit (CAD) by enabling the production of jet fuel and other similar oils. Aliyev will be bringing along a large number of ministers, including ministers of economy, transportation, energy and foreign affairs, for the joint Cabinet session, a tradition Turkey has practiced with other countries in the past. During the joint session, the two countries are expected to discuss ways of boosting trade relations, and possible fields where ministries may be able to cooperate further will also be investigated. Ankara hopes to reflect the "one nation two states" mentality on trade relations between the country, and the fact that the session will be held in Izmir is perceived as a gesture toward the Azeri government.