Trendyol, the leading e-commerce platform in Türkiye and one of the largest technology companies in Europe, has today signed an Agreement with Baku-based PASHA Holding, a leading conglomerate in Azerbaijan. Under the deal, the two parties will provide e-commerce services in Azerbaijan. Çağlayan Çetin, President of the Trendyol Group, said: “The synergies created by PASHA Holding’s experience in the Azerbaijan market and Trendyol’s expertise in technology, logistics and manufacturing will make significant contributions to the development of the e-commerce ecosystem in Azerbaijan. In this sense, we wholeheartedly believe in the success of our strategic partnership and the positive impact it will create on our brotherly country, Azerbaijan.” JALAL GASİMOV - ÇAĞLAYAN ÇETİN PASHA Holding CEO Jalal Gasimov commented: “For some time, there has been significant consumer demand for Trendyol products and services in Azerbaijan. With this Agreement, we have taken one more step to expand our footprint in digital retail ecosystem and are excited to enable the sharing of e-commerce know-how between our two brotherly countries.” Trendyol, the leading e-commerce platform in Türkiye and one of the largest technology companies in Europe, is entering the Azerbaijan market. Signing an Agreement with the Baku-based PASHA Holding, one of the largest conglomerates in Caucasus region, Trendyol is taking another step in its international growth strategy. Trendyol and PASHA Holding reached an Agreement to establish a joint company to provide e-commerce services in Azerbaijan. STRATEGIC PARTNERSHİP WILL ACHIEVE SYNERGIES Çağlayan Çetin, President of the Trendyol Group stated: “We have taken the first step in this exciting strategic partnership with PASHA Holding and once our infrastructure has been finalized, we will begin our operations in Azerbaijan. Last year, Azerbaijan ranked first in terms of international orders placed on Trendyol. In addition, according to data provided by App Annie, Trendyol was the most downloaded app in Azerbaijan in 2022. The synergies created by PASHA Holding’s experience in the Azerbaijan market and Trendyol’s expertise in technology, logistics and manufacturing will make significant contributions to the development of the e-commerce ecosystem in Azerbaijan. The platform will also serve to bring together Turkish and Azerbaijani producers, sellers and customers and thus will be the first ecosystem to serve the interests of both countries. In this sense, we wholeheartedly believe in the success of our strategic partnership and the positive impact it will create on our brotherly country, Azerbaijan.” As part of Trendyol's vision to expand into international markets, Mr. Çetin stated: “This initiative also strengthens the collaborative relationship between Türkiye and Azerbaijan by facilitating cross-border trade and promoting economic growth in the region. This collaboration brings together two nations with complementary strengths and resources to create a mutually beneficial partnership.” 'WE WILL PURSUE NEW OPPORTUNITIES' PASHA Holding CEO Jalal Gasimov commented: “The interest for e-commerce has surged in Azerbaijan due to its convenience, wider product selection, and competitive pricing. This Agreement will enhance the customer journey by providing easy access to a wider product assortment at affordable prices, while also offering embedded finance products and other services of Azerbaijani companies including PASHA Ecosystem to improve overall financial health. This initiative will facilitate technological transfer and help to strengthen the logistics ecosystem that will add value to other verticals such as grocery and food delivery, creating new jobs in the process. It will promote e-commerce culture, attracting MSME traders to online sales, and reducing the prevalence of the grey economy. Ultimately, this initiative is expected to increase foreign investment in the country.”