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Azerbaijan, China pledge to expand export, investment opportunities

Xinhua, August 7, 2016 Adjust font size:

China and Azerbaijan have pledged to expand joint export and investment opportunities in a memorandum signed between the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and China Council for the Promotion of International Trade (CCPIT) on Saturday, according to local Azertac News Agency.

A memorandum of understanding which provides the expansion of joint export and investment opportunities between Azerbaijan and China, as well as exchanging experience in the export and foreign investment promotion of understanding, was signed here in Baku by AZPROMO and CCPIT officials.

Azerbaijan and China opened a new page in their relations after President Ilham Aliyev visited China in December 2015.

China is a huge opportunity and a priority market for Azerbaijan. More than 50 agreements have been signed between the two countries so far. Azerbaijan Export and Investment Promotion Foundation has recently opened a representative office in China to support and encourage relations between the two countries' businessmen, as well as expand Azerbaijan's exports to the Chinese market and attract China's leading investment funds to the Azerbaijan economy.

The two states share a common interest in boosting the collaboration and partnership, as the rapid rise of China and Azerbaijan, and the growing integration between them, has a clear boost for regional projects.

Trade turnover between the two countries amounted to 272.55 million manats in the first half of 2016, while the export of Azerbaijani goods to China accounted for 14.66 million manats, according to the State Customs Committee of Azerbaijan. Enditem