Azerbaijan, China eye to strengthen cooperation
By Sara Israfilbayova
The delegation led by Ogtay Asadov, Chairman of Azerbaijani Parliament met with mayor of Shanghai Ying Yong on June 22.
The sides expressed satisfaction with the establishment in recent years of exemplary cooperation between the countries in the economic sphere, including energy, trade, infrastructure, engineering, tourism and other areas.
It was stressed that further deepening of ties between the two countries through the city of Shanghai, which occupies important positions in the Chinese economy, will be effective.
Further, the sides touched upon the successful development of relations between the two countries in various fields, adding that the relations built with the help of the ancient Silk Road are now successfully developing in accordance with the interests of both parties.
Trade and economic contacts occupy a significant place in bilateral relations between China and Azerbaijan. The process of interaction between the two countries was marked by constant tendencies of expansion and strengthening of cooperation.
The cooperation between China and Azerbaijan strongly contributes to the realization of the Great Silk road program.
The Great Silk Road is a general name of a caravan road, which has been the main two-way trading bridge of East and West since the 3rd century BC up to now. The Great Silk Road starts in Japan and China stretches up to Europe cutting through India, Afghanistan, Iran, Central Asia, Caucasus, Asia Minor, Northern Africa including connecting Indian Ocean, Chinese sea, Japanese sea, Red sea, Caspian sea, Black sea, Sea of Azov and Mediterranean sea.
China became Azerbaijan’s 4th largest trading partner in 2017. Customs data of Azerbaijan estimated bilateral trade at a record close to $1.3 billion in 2017, up 33 percent from the previous year.
Exports of Azerbaijani goods amounted to $433.8 million (3.21 percent of total exports), while imports of Chinese products to Azerbaijan reached $854.5 million (9.73 percent of total imports).
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Sara Israfilbayova is AzerNews’ staff journalist, follow her on Twitter: @Sara_999Is
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