Azerbaijan, pursuing enhanced sustainable development and green transformation, aims to attract a greater number of Chinese investors. This strategic move aligns with the broader objectives of the China-proposed Belt and Road Initiative (BRI), designed to bolster transport connectivity and achieve multifaceted economic goals. The Azerbaijan Investment and Trade Promotion Conference, convened at the Azerbaijani Embassy in Beijing this Tuesday, acted as a catalyst for this burgeoning relationship.
The event welcomed an assembly of over one hundred stakeholders, including officials from relevant sectors, business magnates, and industry group representatives from both countries. Discussions at the conference covered a spectrum of sectors such as mining, agriculture, tourism, logistics, and transportation, reflecting the dynamic cooperation between China and Azerbaijan.
Azerbaijan’s Ambassador to China, Bunyad Huseynov, remarked on his nation’s status as China’s premier trading partner in the South Caucasus, stressing the significance of expanding economic and trade relations with China. The diversification into sectors like transport and logistics, agriculture, and energy featured prominently. “China’s advanced experience and technologies in the field of alternative energy are of particular interest to our country,” stated Huseynov.
The BRI has facilitated not only economic and trade development between the two nations but also spurred the global economy by fostering international cooperation, enhancing infrastructure, and deepening trade ties. Huseynov described the initiative as an expansive economic and communication project with a reach extending beyond its direct participants.
Zohrab Gadirov, Deputy Executive Director of the Export and Investment Promotion Agency of Azerbaijan (AZPROMO), highlighted the myriad investment opportunities arising from Azerbaijan’s strategic position at the crossroads of Europe and Asia. He invited further Chinese enterprise involvement in Azerbaijan to ensure reciprocal benefits.
Reflecting robust trade metrics, bilateral trade between China and Azerbaijan escalated to an impressive $3.1 billion in 2023, surging by 43.5 percent from the preceding year. China ascended as the second-largest source of imports to Azerbaijan, surpassing Turkey and representing 17.5 percent of the nation’s total imports.
Azerbaijan’s strategic location also cements its role as an essential hub within the trans-Caspian international transportation corridor, particularly augmenting the China-Europe freight train service. This route has become increasingly favored, especially following global logistical disruptions, underscoring its reliability and efficiency.
With trade continuing to expand and China maintaining its position as a leading import source for Azerbaijan for several consecutive months, prospects for further enhancement of this economic partnership remain promising. This thriving collaboration not only underscores Azerbaijan’s pivotal role within the BRI but also its importance as a portal for Chinese enterprises into the markets of the Caucasus and the European Union.
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