Azernews.Az

By Nazrin Gadimova

Azerbaijan's Deputy Prime Minister and Chinese Ambassador to Azerbaijan met on December 5.

Addressing the meeting, Abid Sharifov said relations between the two countries are at a high level in all areas, resulting in an increase in mutual trade turnover.

He added that trade turnover between Azerbaijan and China exceeded $900 million in 2012.

"Both countries have a great potential for further growth of this indicator," he said. "Chinese companies successfully operate in Azerbaijan, and economic ties are developing."

Hong Jiuyin, in turn, said relations between China and Azerbaijan are developing within the framework of close friendship and partnership, adding that trade turnover between the two countries has exceeded the total volume of trade between China and other countries of the South Caucasus region.

Such positive indicators open up wider prospects for relations between the two countries, the Chinese diplomat said.

An agreement on economic and technological cooperation was also signed for the allocation of a grant aid of over $4.4 million by the Chinese Government to Azerbaijan for the development of friendly relations between the two countries and technical and economic cooperation.

The agreement paves the ground for delivering Chinese production technologies to Azerbaijan.

Azerbaijan and China have signed nine other agreements on technical and economic cooperation, totaling over $ 36.5 million to date.

Over 160 pieces of equipment for domestic purposes were delivered to Azerbaijan in the framework of these agreements in 2012. Negotiations on delivering 155 pieces of construction equipment to the country are underway.

Azerbaijan appealed to the Chinese government for an additional 50 units of equipment for domestic purposes at the same time.

Diplomatic relations between the two countries were established in April, 1992. The legal framework for bilateral cooperation includes 44 documents.