Spanning Asia with Europe, Azerbaijan determined to further expand "green trade"

In recent years, economic cooperation between Azerbaijan and China has expanded and led to noticeable development in all areas. Azerbaijan has been supporting the Chinese "Belt and Road", which strengthens ties between the two countries and creates new opportunities for cooperation in various fields. Azerbaijan also supports the promotion of one of the main directions of this initiative - “Green Development”.

As Azertag reports, the statement came from the Deputy Prime Minister of Azerbaijan, co-chairman of the Azerbaijani-Chinese intergovernmental Commission on Trade and Economic Cooperation Shahin Mustafayev, at the plenary session “Development of Green Investments and Trade for Building a Global Ecological Civilization” of the International Economic Forum in Hongqiao, China, organized as part of the 6th China International Import Exhibition.

Mustafayev noted that thanks to the joint efforts of Azerbaijani President Ilham Aliyev and Chinese President Xi Jinping, political dialogue and traditional friendship are strengthening between the two countries, interstate relations are developing, and mutually beneficial economic cooperation is demonstrating good dynamics.

He added that Azerbaijan has been making its contribution to the green transformation process and its role as a bridge between Europe and Asia allows it to develop “green trade.”

Mustafayev also emphasized that Azerbaijan is determined to increase the volume of energy obtained from alternative and renewable sources to 30 per cent by 2030, saying the Karabakh and East Zangezur economic regions liberated from occupation are being restored in accordance with the Green Energy Zone concept; the most modern technologies and concepts are being introduced in these territories, including “ Smart village", "Smart city", "Smart agriculture", and "Green energy".

According to him, alternative and renewable energy sources have already become the main source of foreign investment in Azerbaijan, attracting foreign investments, including those by Chinese companies.

Mustafayev said in accordance with the agreement on strategic partnership in the field of development and transfer of green energy, signed last December in Bucharest between the governments of Azerbaijan, Georgia, Romania and Hungary, “green energy” produced in Azerbaijan will be transported to Europe.