Deputy minister: Azerbaijan-China trade turnover reaches $1.1B in 5 months

Fri 05 Jul 2019 16:10 GMT | 20:10 Local Time

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In January-May 2019, the trade turnover between Azerbaijan and China reached $1.1 billion, Azerbaijan's Deputy Minister of Economy Niyazi Safarov said at an Azerbaijani-Chinese business forum in Baku on July 5, Trend reports.

The deputy minister noted that compared to January-May 2018, this figure increased by 2.6 percent.

"Last year, the volume of trade turnover between the two countries amounted to $1.3 billion. At the same time, Azerbaijan's investments in China's economy reached $1.7 billion, while China’s investments in Azerbaijan’s economy reached $800 million," Safarov said.

The deputy minister noted that currently, 119 companies with Chinese capital are operating in Azerbaijan.

Safarov added that bilateral cooperation between the two countries has a good prospect, this is especially evident in trade, investment, transport, and tourism.

"There are close partnerships between Baku and Beijing, while Azerbaijan is China’s main strategic partner in the South Caucasus region," he stressed.

Over 10 Chinese companies took part in the business forum on July 5.




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