Baku delegation discusses prospects for new projects during Beijing visit Energy, transport, ICT, investment and tourism

An Azerbaijani governmental delegation, headed by Minister of Economy Mikayil Jabbarov, has been discussing within the framework of their four-day visit to the People’s Republic of China their cooperation within the framework of the Chinese "One Belt - One Road" initiative and other promising projects on infrastructure development.

According to Caliber.Az, referring to the Ministry of Economy, the delegation is expected to hold a number of meetings during their visit from September 1-4. 

They have signed a framework agreement with the National Development and Reform Commission of China (NDRC) on strengthening production capacities and investment cooperation.

According to Jabbarov, the implementation of the agreement will help strengthen bilateral economic ties and strengthen cooperation in the investment field.

The Chairman of the NDRC, Zhen Shanjie expressed his satisfaction with the development of relations in various areas and continued to discuss the prospects of expanding cooperation in the fields of information and communications technology (ICT), trade, energy, transport and transit, investment, social, tourism and others.

In the course of the meeting, the sides noted the political will and friendship between the heads of state, President Ilham Aliyev and President Xi Jinping being the main driving force for the bilateral cooperation. The high-level relations established between the two countries offer great opportunities for strengthening the economic partnership.

Information on the measures taken to ensure sustainable development of Azerbaijan was presented during the meeting, with emphasis given to the special significance of the application of green and smart concepts within the initiative for "National priorities of socio-economic development: Azerbaijan 2030", as was the reintegration work which is being carried out in the liberated territories. The creation of an enabling environment for public sector transformation, the raising of the ecosystem quality, sustainable business and human capital development, digital economy mainstreaming and innovation are all high priorities of the government's "Strategies of socio-economic development for 2022-2026" program. All this provides fertile ground for intensifying cooperation with international partners, including China.

Furthermore, the delegations of both parties discussed the work being carried out on the basis of significant agreements reached within the 22nd Meeting of the Council of Heads of State of the Shanghai Cooperation Organization in Samarkand. Within the framework of the meeting, the current state of investment relations was discussed, including potential steps to expand effective cooperation, and Azerbaijan’s active position on the initiative of "One Belt - One Way" prospects for cooperation for the effective use of the "Middle Corridor".

In the closing of the meeting, a framework agreement "on Production Capacity and Strengthening Investment Cooperation" was signed by the heads of the delegations, Jabbarov and Shanjie. The agreement provides for cooperation in various areas of the economy, including knowledge-based industry and innovation, as well as the application of Fourth Industrial Revolution technologies.

At a meeting with the President and Chairman of the Board of Directors of the Asian Infrastructure Investment Bank (AIIB), Jin Liqun, the importance of the successful cooperation between the two sides, which started in 2016, was emphasized. The activity of the bank in the sphere of ensuring a green and sustainable future, as well as its support in the formation of strong economies of the AIIB member countries, was noted. Both sides acknowledged the significant contribution that the projects implemented together with the Bank make to the transformation of Azerbaijan, being a reliable energy supplier, into a regional hub.

The sides also discussed issues related to the Southern Gas Corridor, transport-transit and logistics projects, including the Baku International Sea Trade Port, shipbuilding and railway infrastructure, as well as opportunities for joint cooperation within the Azerbaijan segment of the "Middle Corridor".

The main directions of potential cooperation, and priorities of the bank’s activities in Azerbaijan, including promising projects for the development of green energy and infrastructure were also touched upon during this meeting.