Azernews.Az

Azerbaijani and German businessmen met in Baku on Tuesday to explore prospects for closer cooperation and boosting the development of numerous fields of Azerbaijan`s rapidly growing economy.
A German delegation led by Deputy Minister of Economics of the Baden-Wurttemberg province, Hans Freudenberg, attended the ninth joint business forum where representatives of world majors pledged to apply new technologies in the fields of Azerbaijani economy that require a boost. German entrepreneurs said they intended to channel large-scale investment in services, energy, navigation, food industry and information technologies.
German ambassador in Baku, Peer Stanchina, said the key goal of the event was to collect comprehensive information about Azerbaijan. Moreover, entrepreneurs of Baden-Wurttemberg are seeking to forge ties with the country.
Baden-Wurttemberg, one of Germany`s largest provinces and Azerbaijan are linked by deep historical roots. Germans, who moved from Baden-Wurttemberg and settled in the cities of Ganja, Khanlar and Shamkir in the late 19th century, laid groundwork for wine-making in the country.
Stanchina emphasized that Azerbaijan has been the world`s fastest-growing economy for two years running, which has increased German businessmen`s interest in the South Caucasus republic.
He said Germany`s industry could help bring cutting-edge technologies to developing Azerbaijan. "This will both increase the quality of production and play a great role in environmental protection."
Stanchina stressed that the technologies offered by Germany stand out for their sustainability, and German-made equipment purchased by Azerbaijan is suitable for operation for over 30 years.
He said bilateral trade turnover made up 1bn euros in 2006 and 1.5bn euros in 2007, and a further increase is to be posted this year.