Trade turnover between Azerbaijan and China $1.3 billion
By Leman Mammadova
Azerbaijan and China are closely cooperating on the international and regional level.
Over the past years, positive dynamics of development has been observed in trade and economic relations between Azerbaijan and China, said Niyaz Alizade, Head of the Chamber of Commerce and Industry, at the opening ceremony of the fifth exhibition of goods of the Silk Road countries, on September 19.
He noted that the volume of trade between the two countries currently stands at $1.3 billion. “At the same time, imports of goods from China grew by 40 percent. Azerbaijan is considered the main trade and economic partner of China in the South Caucasus region.”
Alizade stressed that Azerbaijan has become one of the important international transport centres located on the historic Silk Road.
“Today, the Baku-Tbilisi-Kars (BTK) railway corridor is the shortest transport route for the transportation of goods to China and Europe,” he said.
He further added that Belt and Road Initiative can significantly contribute to encouraging contacts between Azerbaijan and China, and noted its importance for maintaining stability and security in the region.
Baku hosts the fifth exhibition of goods of the Silk Road countries, which mainly presents Chinese goods intended for use in agriculture, light industry, household appliance, construction products and other sectors of the economy.
The exhibition is organized by the Chamber of Commerce and Industry of Azerbaijan jointly with Huahe International Business Consulting Co.
China is the third-largest trading partner of Azerbaijan, holding the third position in Azerbaijan’s exports and the fourth in imports. Currently, over 20 Chinese enterprises, engaged in energy, construction, information and communications, aviation, transport logistics, retail trade, restaurant business etc., operate in Azerbaijan.
The diverse relations between China and Azerbaijan, which have intensified in recent years, are expected to enter a new phase within the Belt and Road Initiative. Azerbaijan has a unique geographical position on the route of the New Silk Road. Providing beneficial conditions on transit routes, Azerbaijan is an attractive transport hub for the Chinese companies for delivery of goods to the West.
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Leman Mammadova is AzerNews’ staff journalist, follow her on Twitter: @leman_888
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