Trendyol signed a partnership agreement for the Azerbaijan market with Baku-based Pasha Holding, one of the largest holdings in Azerbaijan.
Industry and Technology Minister Mustafa Varank stated that Trendyol will now serve as a brand of that country in Azerbaijan and said, “The trade volume between the two countries will increase even more in the coming period.”
Trendyol signed a partnership agreement for the Azerbaijan market with Baku-based Pasha Holding, one of the largest holdings in Azerbaijan. Within the scope of the agreement, Trendyol and Pasha Holding will establish a company that will carry out joint e-commerce activities in Azerbaijan. Thus, Trendyol will be opened to Azerbaijan after Germany.
Speaking at the agreement ceremony held at TEKNOFEST, Turkiye’s aviation, space and technology festival, Minister of Industry and Technology Varank stated that he was very pleased that this signing ceremony, which will carry the economic relations between the two countries to a different dimension, was held in the atmosphere of TEKNOFEST.
Stating that they are advancing their relations with Turkiye and Azerbaijan with the slogan of ‘one nation, two states’, Varank noted that relations in economic and commercial terms have moved to a different dimension recently.
Varank continued his words as follows:
‘I went to the opening of Trendyol’s Berlin office before. Hopefully, we will start seeing Trendyol in Azerbaijan today, as it will be the second address. Together with Pasha Holding, we will be creating a joint brand in Azerbaijan, in a sense. Trendyol is already one of the most used brands in Azerbaijan, but it will continue on its way as the brand of Azerbaijan. The trade volume between the two countries will increase further in the coming period.’
Varank stated that the ways of doing business in the world have changed and technology companies have become producing solutions for their customers in many areas, and said, “There is a great competition in the world. We must not miss this. We will introduce the joint brand of Azerbaijan and Turkiye to the world. We will open to that geography with our brand. I would like to thank Pasha Holding for making such a strategic sign again.”
‘The synergy created by the partnership will develop the Azerbaijan e-commerce ecosystem’
Trendyol Group President Caglayan Cetin stated that they have taken the first step of strategic partnership with Pasha Holding and stated that Azerbaijan websites will be opened as of May 3.
Stating that they will fully start their activities in Azerbaijan when they complete the infrastructure works, Cetin said:
‘When we look at the orders given to Trendyol from abroad last year, Azerbaijan ranks first. In addition, according to mobile data analysis platform App Annie, Trendyol was the most downloaded application in Azerbaijan in 2022. The synergy created by Pasha Holding’s experiences in the Azerbaijan market and Trendyol’s technology, logistics and production competencies will make significant contributions to the development of the Azerbaijan e-commerce ecosystem. In this sense, we wholeheartedly believe in the success of the strategic partnership established and its positive impact on brotherly country Azerbaijan.’
Emphasizing that Trendyol’s opening to international markets is one of its priorities in its future vision, Cetin said, “This initiative will strengthen the cooperation-based relations between Turkiye and Azerbaijan by facilitating cross-border trade and contributing to the economic growth in the region. This cooperation brings together two countries with complementary competencies for a mutually beneficial partnership.’
‘We will follow new opportunities’
Pasha Holding CEO Jalal Gasimov stated that the interest in e-commerce has increased in Azerbaijan due to the convenience, wide product selection and competitive prices, and made the following assessments:
“This agreement will provide ease of access to a wider range of products at advantageous prices, and will also offer financial products and services of Azerbaijani companies, especially those included in the Pasha ecosystem. Thus, it will improve the customer experience while improving overall financial health. In addition to facilitating technology transfer, this initiative will improve the logistics ecosystem, add value to different areas such as fast food markets and food, create new job opportunities, encourage e-commerce culture, enable SMEs to sell online, and reduce the informal economy. Thus, we expect this initiative to increase foreign investment in the country.’
Source: AA / Prepared by Irem Yildiz