The Azerbaijan Minister of the Economy, Shahin Mustafayev, has officially opened a trade representative office in Beijing, China. The move comes as levels of trade between the two countries, which have been increasing for some time, are set to reach record levels.
“China is one of the main trading partners of Azerbaijan,” said Mr Mustafayev at the ceremony held in Beijing to open the trade office. “Trade turnover between the two countries increased by 43 per cent in 2017, and amounted to a total of 1.2 billion US dollars. In the list of our trade partners partners, China ranks fourth in total trade turnover, eighth in exports and third in imports.”
The minister stressed that more than 100 companies with Chinese capital were present in Azerbaijan, operating in a number of fields on various projects around the country. Mr Mustafayev also spoke about the export delegations, sent from Azerbaijan to China between 2016 to 2017. According to the minister, Azerbaijani products have been presented to Chinese buyers at two specific “Made in Azerbaijan” stands at major exhibitions.
Azerbaijan is planning to take part in three more exhibitions in China. At a forum in February in Beijing, Azerbaijan is will be focusing on its wine, and is also currently working on opening an Azerbaijan Wine House at the international trade centre in Shanghai.
Azerbaijan-China relations are currently flowering, at least in the field of business. Only last month there was an announcement that the Azerbaijan National Academy of Sciences and the China-Russia Innovation Tech Park are to create a platform for establishing business relations between Chinese and Azerbaijani entrepreneurs.