Azerbaijan eyes setting up trade house in Japan

14 July 2021 12:15 (UTC+04:00)

By Ayya Lmahamad

Azerbaijan is increasing the number of its trade houses across the world.

The establishment of Azerbaijan’s Trade House in Japan was discussed during the meeting held with Japanese Ambassador Junichi Wada at Azerbaijan’s Export and Investment Promotion Foundation (AZPROMO) on July 13.

During the meeting, Economy Minister’s Adviser Emil Majidov emphasized the great potential for expanding cooperation between Azerbaijan and Japan in the economic, trade, transport, logistics and other spheres while the Japanese ambassador spoke about the development of economic partnership between the two countries.

He spoke about the work done in the country on the development of the non-oil sector and the constant improvement of the business environment and informed the participants about the opportunities created to attract investments in the non-oil sector, including the creation of the Alat free economic zone.

AZPROMO’s head Abdullayev briefed the participants about the work done by the foundation to support exports, and noted measures taken to promote the “Made in Azerbaijan” brand.

Additionally, the parties discussed ways of increasing mutual investment and trade between the two countries.

It should be noted that the trade turnover between Azerbaijan and Japan amounted to $200.4 million in 2020. In addition, the trade turnover between the two countries amounted to $92.5 million in the first five months of 2021.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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