Minister: Azerbaijan plans to open new wine, trading houses in China

Wed 14 Nov 2018 11:25 GMT | 15:25 Local Time

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Azerbaijan can export more agricultural products to China, including cotton, tobacco, grapes, as well as aluminum and chemical products, Minister of Economy of Azerbaijan Shahin Mustafayev said in an interview with the Chinese newspaper Global Times.

"We have taken a number of measures to increase the mutual trade with China. In particular, at the end 2017, a trade representative of Azerbaijan in China was appointed. In September 2018, we opened a wine house in Urumqi, a trading house in Luzhou, and another wine house in the Shanghai free trade zone. Azerbaijani products are also available at DIG supermarkets and will soon be sold at G-Super supermarkets in Shanghai as well," the minister said, adding that Azerbaijan will continue to open trade and wine houses in China.

Mustafayev also touched on issues of investment cooperation, noting that Chinese companies have invested $800 million in the economy of Azerbaijan and 112 companies with Chinese capital operate in the country.

The minister added that the government of Azerbaijan is also taking measures to improve the business environment in the country.

Thanks to the measures taken, in the Doing Business 2019 report, Azerbaijan improved its position by 32 steps and took the 25th place.

"We hope that Chinese companies will be able to take advantage of favorable conditions in Azerbaijan. In turn, the government is ready to support the investments of Chinese companies," Mustafayev said.

The minister noted that China and Azerbaijan can also cooperate in high technologies. As an example, Mustafayev cited the successful work of two Chinese IT companies, Huawei and ZTE, in Azerbaijan.

Further, the minister noted the successful cooperation in tourism, adding that last year alone, the number of Chinese tourists visiting Azerbaijan increased by 62 percent.

"I think that there is a potential for expanding cooperation in this sector," he added.






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