Azernews.Az

Rhineland-Palatinate state of Germany is interested in developing economic cooperation with Azerbaijan, head of the Chamber of Commerce of the Rhineland-Palatinate Gareld Augter said at the 14th Azerbaijan-German business forum in Baku on Monday.

He said this interest is connected with the fact that there are high rates of economic growth in Azerbaijan. The development of the Rhineland-Palatinate is highly dependent on exports.

Bilateral trade between Germany and Azerbaijan reached $936 million in January-July, representative of the Azerbaijani Economic Development Ministry Huseyn Pashayev said at the business forum. Azerbaijan's total trade turnover for the period was $19.8 billion, of which 14.5 billion fell to exports and 5.3 billion - imports.

Pashayev added that credit investments in Azerbaijani economy for the last eight years had increased by 14.8 times, capital investments by 3.7 times. The turnover for the past eight years has increased seven-fold, while exports increased by 10.3 times.

Pashayev stressed that the investments in the non-oil sector of the country for eight years increased by 9.7 times.

It was reported at the forum that the second meeting of the working group on cooperation between Azerbaijan and Germany will be held in November.