By Ayya Lmahamad
The third Trade House of Azerbaijan has been opened in China’s Qingdao, the country’s economy ministry has reported.
The Trade House was opened with the support of Azerbaijan’s Economy Ministry and the organization of the Trade Representation at the Azerbaijani embassy in Beijing.
It should be noted that the Trade House of Azerbaijan, located in an area of 245 square meters, presents 45 types of domestic products, investments, transport and transit, and tourism potential of Azerbaijan.
The opening was attended by the Azerbaijan Ambassador to China Akram Zeynalli, Trade Representative Teymur Nadiroglu, and a member of the Standing Committee of the Qingdao Government Liu Jianjun.
The previous two trade houses were opened in 2018 and 2019.
Azerbaijan is China’s key trade partner in the South Caucasus region. In 2020, China became Azerbaijan’s 4th largest trading partner. The trade turnover between the two countries amounted o $1.8 billion, with export accounting for $432.7 million and import to $1.4 billion. In addition, China was also Azerbaijan’s fourth main trade partner in the first quarter of 2021, with a trade turnover of $428.2 million. Of the total turnover, export amounted to $115.7 million while import to $312.4 million.
Additionally, in September 2013, China officially announced a large-scale project - the construction of transport and logistics system "One belt - one path", aimed at creating infrastructure and establishing links among the Eurasian countries back. This Chinese strategy envisages two key areas of development: the economic belt of the Silk Road and the maritime Silk Road.
Azerbaijan was the first country to support China's "One belt, one path" initiative in the Caucasus region.
Azerbaijan plays an important role as a logistic center, hub, and bridge in the implementation of the “One Belt, One Way” project. Azerbaijan's participation in this project provided the ability to merge east and west routes, as well as the North-South transportation corridor.
Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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