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Azerbaijan, China discuss investment cooperation

5 January 2023 11:59 (UTC+04:00)
Azerbaijan, China discuss investment cooperation
Ayya Lmahamad
Ayya Lmahamad
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Azerbaijan and China have discussed opportunities for cooperation on investment in energy, infrastructure, and construction sectors, Azernews reports.

The discussion took place during a meeting between Azerbaijan’s Export and Investment Promotion Agency (AZPROMO) Head Yusif Abdullayev and Chinese company China Energy and Engineering Group Co. Vice President for South Asia region Wang Jiliang.

During the meeting, Yusif Abdullayev spoke about the agency’s activities, the favorable business and investment environment created in Azerbaijan, as well as the implemented investment projects. In this regard, he invited Chinese companies to active cooperation.

Further, Wang Jiliang briefed on his company’s activities.

The diplomatic relations between the two countries were established on April 2, 1992.

Azerbaijan is China’s key trade partner in the South Caucasus region. In 2021, China became Azerbaijan’s 4th largest trading partner, with a trade turnover amounting to $1.7 billion.

Azerbaijan has a trade mission in China, trade and wine houses, trade branches in trade networks and measures are continuously taken to develop cooperation. In addition, there are companies with Chinese capital operating in Azerbaijan. Successful investment cooperation is underway.

Meanwhile, negotiations are underway with China on a number of industrial projects. Azerbaijan was one of the first countries to support China's Belt and Road Initiative.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

Follow us on Twitter @AzerNewsAz

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