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Chinese Companies Invested $800M in Azerbaijan

Chinese companies have invested about $800 million in Azerbaijan, Azerbaijani Economy Minister Shahin Mustafayev said during a meeting with the Ambassador of China to Azerbaijan Wei Jinghua.

Addressing the meeting, the minister stressed that Azerbaijan attaches special importance to cooperation with China.

Speaking about the development of relations with China in the fields of transit transport, trade, investment, tourism and other areas, the minister noted that the trade turnover of Azerbaijan with China increased by 20 percent in 2017, reaching $1.3 billion.

It was noted that a wine house will be opened in Shanghai, in Beijing and other major cities by the end of this year, it is also planned to open trade and wine houses, the Azerbaijani delegations are expected to attend the Chinese-Eurasian exhibition, which will be held in Urumqi in August this year and the international IMPORT EXPO 2018 exhibition, which will be held in November in Shanghai.

The Chinese ambassador, in turn, expressed his satisfaction with the development of Azerbaijan, the expansion of relations between the countries, expressed confidence in the further development of Chinese-Azerbaijani cooperation, and shared his views on the prospects for the development of economic relations.

The sides exchanged views on the prospects of development of Azerbaijani-Chinese economic relations and cooperation between the two countries.