Azerbaijan, China mull business cooperation
By Ayya Lmahamad
Azerbaijan’s Export and Investment Promotion Foundation under the Ministry of Economy and Chinese Sino-Foreign agency have discussed the development of business cooperation between Azerbaijan and China during an online business meeting held recently.
Development of cooperation between business circles of the two countries was high on the agenda of the meeting as the sides emphasized the role of the meeting and negotiations in expanding relations between the two organizations.
Acting head of AZPROMO informed about the work done to promote the brand “Made in Azerbaijan”, and the promotion of Azerbaijani products to foreign markets and expand sales.
In turn, director of Sino-Foreign talked about the activities of his organization, emphasizing the importance of establishing relations between two organizations, and the work to be done in this area.
Additionally, the parties discussed expansion of relations between AZPROMO and Sino-Foreign, as well as export of Azerbaijani products to China.
It should be noted that the trade turnover between Azerbaijan and China amounted to $1.4 billion during the period of January-September 2020. China was Azerbaijan’s fourth largest trading partner during the reporting period, after Italy, Turkey and Russia. Of the total trade turnover, export of Azerbaijani products to China amounted to $420.1 million, while import to Azerbaijan from China amounted to $1 billion.
The Azerbaijan Export and Investment Promotion Foundation (AZPROMO) is a joint public-private initiative, established by the Ministry of Economy of Azerbaijan in 2003 with the aim to contribute to the economic development through attracting foreign investments and stimulating exports in the non-oil sector.
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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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