Azerbaijan seeks closer economic ties with China

Cooperation between Azerbaijan and China is meeting great expectations in such areas as energy, transport, transit transportation and investment, Azerbaijan's Minister of Economy Shahin Mustafayev said while meeting with Chinese businessmen here on Friday.


The minister pointed out that Azerbaijan is interested in further development of relations with China.


According to Mustafayev, the volume of trade between Azerbaijan and China grew by 56 per cent in the first nine months of 2016, compared to the same period of 2015.


Member of the board of directors at the China National Petroleum Corporation (CNPC) Wang Shihong praised economic and political relations between Azerbaijan and China. He emphasized the importance of the construction of chemical and oil refinery complex in Azerbaijan.


The sides also discussed the ways of expanding cooperation between the two countries' entrepreneurs.


China is one of the main trade partners of Azerbaijan. More than 50 agreements were signed between the two countries so far.


Azerbaijan Export and Investment Promotion Foundation (AZPROMO) has recently opened a representative office in China to support and encourage relations between the two countries' businessmen, as well as expand Azerbaijani goods export to the Chinese market and attract China's leading investment funds to the Azerbaijan economy.


Azerbaijan also plans to appoint sales representative in China by the end of this year.


Trade between the two countries reached 641.39 million US dollars in January-September 2016 with 145.81 million US dollars accounting for export to China, according to Azerbaijan's State Customs Committee.

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