Azernews.Az

By Sara Rajabova

Japanese deputy Foreign Minister Minoru Kiuchi has expressed his country`s interest in developing its relationship with Azerbaijan as he met Economy and Industry Minister Shahin Mustafayev in Baku.

Kiuchi hailed the development of Azerbaijan`s economy, saying he was especially impressed by the growth of the country`s non-oil sector, AzerTag state news agency reported.

The minister, in turn, praised Azerbaijani-Japanese ties, saying “our countries have so far signed 17 documents on cooperation”. “There are 19 companies with the Japanese capital in Azerbaijan.”

He emphasized the importance of the agreement on encouragement and mutual protection of investment.

Mustafayev highlighted Azerbaijan`s achievements in industry, and invited Japanese companies to invest in his country.

The diplomatic relations between Azerbaijan and Japan were established in 1992. Relations between the two countries continue developing. Japan was one of the first countries to support Azerbaijan's forward-looking oil strategy.

Today two major Japanese companies Itochu and Impex are involved in the Contract of the Century. Leaders of Japanese business, Mitsubishi, Mitsui, Marubeni, and Sojits are involved in the energy and infrastructure projects in the country.

Azerbaijan considers cooperation with Japan in the field of high technology, particularly in the field of manufacture of innovative production, with their further entering the regional markets.

Until now, Japanese companies were involved mainly in projects in the energy sector, but in recent years their interest to cooperate in areas such as petrochemicals, oil refining, energy, medicine, high-tech and space industry has increased.

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