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State Grain Fund starts cooperation with Japanese companies

5 August 2019 15:38 (UTC+04:00)
State Grain Fund starts cooperation with Japanese companies

By Mirsaid Ibrahimzade

Azerbaijan takes advantages from cooperation with developed countries which have an advanced economy. As an example, the country reaps benefits from relations with Japan which is also expressed in provision of financial support for the implementation of a number of projects in the country.

The Japanese delegation, consisting of the representatives of the Dentsu Group investment company and Kaneko Seeds company, engaged in the production of agricultural products, as well as equipment for the agricultural sector, has met with Emin Guliyev, the head of the State Grain Fund.

Speaking at the meeting, Tomoaki Sakamoto, director of the international relations department at Kaneko Seeds, stated that Azerbaijan is taking serious steps in the field of grain growing.

He added that as a result, there is a great weight of the agrarian sector in the general indicators of the country's economic growth.

The Japanese delegation said that the development and growth of agriculture provides the population with high-quality and environmentally friendly products, and the processing industry - with raw materials.

It was noted that the cooperation of Japanese companies with long-term experience in grain production with Azerbaijani farmers can open up new prospects for the development of this sector of the national economy.

At the meeting, the parties agreed to prepare and sign a protocol of intent between the State Grain Fund and Dentsu Group on cooperation in the field of grain production, exchange of experience and market research.

Kaneko Seeds is a well-established company which offers an integrated and holistic agribusiness. It has been producing and supplying highly reliable and the highest quality seeds since 1895 when it was established.

Other Japanese companies such as Itochu and Impex are involved in the Contract of the Century, a large-scale international contract dated September 20, 1994, on the joint development of three oil fields - Azeri, Chirag and Gunashli (ACG) in the Azerbaijani sector of the Caspian Sea.

These companies will operate in Azerbaijan at least until 2050 within the modified and redeveloped agreement on joint development and shared distribution of production from the Azeri, Chirag fields and the deepwater part of the Gunashli field, signed in 2017.

As for the trade turnover between Azerbaijan and Japan, it amounted to $394 million in 2018, the largest share of which accounted for the imports from Japan.

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Mirsaid Ibrahimzade is AzerNews’ staff journalist, follow him on Twitter: @MirsaidIbrahim1

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