Azerbaijan mulls cooperation with All-China Federation of Industry and Commerce

Azerbaijan’s Economy Minister Mikayil Jabbarov held a meeting with a delegation from the All-China Federation of Industry and Commerce (ACFIC), led by Deputy Executive Chairman Shen Yin.

The meeting discussed that the "Joint Declaration on Establishing Strategic Partnership between Azerbaijan and China," signed at the Shanghai Cooperation Organisation summit in Astana, has set the stage for enhanced bilateral relations and new opportunities in trade, investment, and the private sector, Caliber.Az reports via the Ministry of Economy.

The guests were provided with information about the favourable business and investment environment created for investors in Azerbaijan.

Successful cooperation is underway with Chinese companies in investment, industry, energy, agriculture, and other sectors, with trade turnover on the rise.

Thanks to the activities of the Trade Representation of Azerbaijan in China, several Azerbaijani products have become known in the Chinese market. At the same time, it is important to intensify efforts for greater participation of Azerbaijani companies in exhibitions and forums held in China. Given the interest of Chinese companies in the economy of Azerbaijan, it is essential to enhance collaboration between the relevant structures of both countries in this area.

It was emphasised that Chinese companies can operate in the industrial zones of Azerbaijan, including the Alat Free Economic Zone, as well as in infrastructure, transport, and other sectors in Karabakh.

The meeting participants highlighted the prospects for developing trade and economic relations, and expanding partnerships between the business communities of both countries, including in tourism, information and financial technologies, and innovations, among others.

There was also an exchange of views on investment in Azerbaijan by Chinese private companies, the implementation of joint projects, and support from ACFIC for these initiatives.