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Azerbaijani-German trade turnover hits $2.2 bln

16 September 2014 13:40 (UTC+04:00)
Azerbaijani-German trade turnover hits $2.2 bln

By Aynur Jafarova

The trade turnover between Azerbaijan and Germany increased by 25 percent hitting $2.2 billion in 2013, Shahin Mustafayev said.

Speaking at a meeting with a delegation of the German Parliamentarians in Baku on September 15, Azerbaijan's Economy and Industry Minister noted the trade relations between the two countries increased by 15 percent in January-July 2014.

"The trade relations with Germany, which is the main trade partner of Azerbaijan, are being expanded year by year," Mustafayev added.

He noted currently, around 177 companies with German capital are operating in various sectors in Azerbaijan, and Azerbaijan closely cooperates and implements joint projects with the German Society for International Cooperation, KfW Development Bank.

In their remarks, Chairmen of the Bundestag Committees on Economy and Industry Peter Ramsauer and Economic Cooperation Dagmar Woehrl appreciated the socio-economic development of Azerbaijan.

They said there is a great capacity for the development of cooperation between the two countries. They also discussed mechanism of expanding economic ties.

During the meeting, the sides also discussed industrial ties, production and processing of agricultural products, tourism, and ICT as important sectors for developing bilateral cooperation.

As part of the visit to Azerbaijan, the German delegation also attended the opening ceremony of the Goygol-Ganja main water pipeline, built as part of the 'Open Program of Public Infrastructure,' financed by the KfW and the Swiss State Secretariat for Economic Affairs (SECO).

Speaking at the opening ceremony, Azerbaijan's Deputy Prime Minister Abid Sharifov said the government is in talks with the KfW Development Bank for the provision of an additional 250 million euros (over $320 million) loan.

"Throughout the cooperation period, since 1994 the German bank has allocated loans totaling 241.4 million euros for various projects in Azerbaijan," Sharifov said. "These funds were directed at various sectors of the economy, including the restoration of water supply and sanitation systems."

He said the reconstruction of the water supply and sanitation systems is a priority, and similar projects are being implemented in 38 cities and regional centers under the instruction of Azerbaijani president with the support of international financial organizations, including the KfW.

In his remarks Teyyub Jabbarov, the First Deputy Chairman of Azersu, an organization engaged in drinking water supplies and sanitation services in Azerbaijan, said various works were carried out to at the Goygol water source to supply the consumers in Ganja with drinking water and improve sanitation services there.

He said these works included restoration of a drainage system, construction of a reservoir and a pipeline, which was constructed from the Goygol source to Ganja using the pipes with a diameter of 500 meters.

"Ganja city's problem with water supply and sewerage services will be completely solved for the next few years," Jabbarov said.

Diplomatic relations between Azerbaijan and Germany were established in February 1992. The economic relations between the two countries are developing successfully. To date, 67 documents have been signed between Azerbaijan and Germany in various fields.

Azerbaijan has sent about 200 entrepreneurs and young managers to various German cities in 2009-2014 to take training courses within a joint program to upgrade their skills in business management.

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