Azerbaijani-German Chamber of Commerce opens in Baku
By Nigar Orujova
The German-Azerbaijani Chamber of Commerce opened in Azerbaijani capital Baku on Monday.
Established in March 2012, the Baku Chamber has been formed on the basis of German-Azerbaijan Economic Union, and is a part the network of German Chamber of Commerce, which unites similar structures in 120 countries around the world. This opening will come as the second in CIS after Russia.
German Deputy Foreign Minister Cornelia Pieper, Head of the department of the German Ministry of Economics and Technology Dr. Karl-Ernst Brauner and Dr. Volker Treier representing the German Chamber of Commerce, together with Azerbaijani Minister of Economic Development Shahin Mustafayev participated in the opening.
During her opening speech Pieper said German companies are considering orders worth 900 million euros in total made from Azerbaijan.
"We see great potential for trade growth between the two countries and the chamber is created to act as a catalyst in the process," Pieper stressed.
According to Pieper, the establishment of the Chamber is a response to the positive dynamics in the economic ties [between the two countries] development.
Germany appreciates Azerbaijan's role in ensuring the energy security of Europe, Pieper added.
"Azerbaijan is the sixth oil supplier to Germany and we
appreciate the role of Azerbaijan in ensuring energy security of
Europe in general and Germany in particular," Pieper said.
According to Pieper, the development of the Southern Gas Corridor
has strategic importance for Germany.
"Pipelines, which were designed to deliver energy to Europe, should
be able to increase their capacity in the future and be open to
third parties," Pieper added.
Azerbaijan plans to export 10 billion cubic meters of gas per year to Europe within the second phase of Shah Deniz field development.
Niyazi Safarov, Azerbaijani Economic Development Deputy Minister, said German investments in Azerbaijan exceed $450 million.
"About 105 companies are working with German capital in Azerbaijan, while there are ten joint projects with the budget of 460 million euros, including Azerbaijani government's funds," Safarov added.
According to Safarov, there is a robust regulatory framework and more than 60 intergovernmental agreements to develop bilateral relations.
"Boosting relations between the two countries promote mutual trade," Safarov underscored. "Thus, Azerbaijan and Germany increased goods turnover by 2.2 times in 2011 and by 70 percent in January to September of 2012. We have great potential for further expansion of mutual trade."
Germany has allocated to Azerbaijan 45 million euros in technical assistance, 20.1 million euros in grants and 244 million euros under the financial cooperation, Safarov noted.
In turn, Chamber Chairman Samir Akhundov said the newly established 135-member chamber will be a reference point in cooperation between the two countries.