China (Azerbaijan) Created Fair

China – Azerbaijan Economic Exchange and Development

The “One Belt, One Road” China-Azerbaijan enterprise signing ceremony was held in Beijing on the 24th. The Minister of Economy of Azerbaijan and the Chairman of the Azerbaijan-China Economic and Trade Cooperation Committee, Sasin Mustafaev, said that the two companies signed 10 contract documents and memoranda with a total value of more than 820 million dollars on the same day. Establish a new “partnership” and strengthen economic and trade exchanges between the two sides.
Azerbaijan, located at the junction of Asia and Europe, is the “crossroads” of the “heartland” of the Eurasian continent and the intersection of traffic corridors, connecting the vast areas of Central Asia and Europe, the Middle East and Russia. With its superior geographical position, Azerbaijan has become one of the important passages on the ancient Silk Road and played an important role in the ancient East-West trade network.
“The products manufactured in Azerbaijan can meet local needs and export to neighboring countries with the advantage of the portal.” Temur revealed that the Baku-Tbilisi-Kars railway to the Georgian border is officially put into operation. The Caspian Transport Corridor will be one of the shortest and safest railway lines connecting China and Europe. In addition, the country’s international maritime trading port has been operating since last year.
Azerbaijan’s economy relies mainly on oil and natural gas, and the government is promoting an economic diversification strategy, with plans to achieve 80% of GDP by non-oil industry by 2020. “We and China are interested in promoting cooperation in these areas: agriculture, oil and gas, international transportation and investment, communications and information technology, setting up production lines in the industrial sector, and expanding trade and tourism cooperation,” he said.
According to reports, Azerbaijan is promoting economic reforms. In order to attract investment, on the one hand, it has formulated a number of preferential policies, including land and property taxes exempted for a certain number of years in industrial and technological parks, foreign investment and repatriation of profits, no technology transfer. And foreign exchange restrictions; on the other hand, take advantage of the portal, strengthen infrastructure construction, build a new Baku international shipping port, open up new routes, and sign free trade agreements with many countries.
Azerbaijan has prioritized agriculture and food, small and medium-sized enterprises and consumer goods, heavy industry and machinery, tourism, logistics and trade, housing, vocational education, financial services, telecommunications and IT, and utilities. In the past 15 years, the country has received $250 billion in investment and the economy has grown more than threefold.
“In the process of building a ‘One Belt, One Road’, China and Azerbaijan have their own advantages, and the cooperation in many fields is highly complementary and has great potential for cooperation.” In 2018, the trade volume between China and Azerbaijan reached US$1.3 billion. Doubled in 2013. Temur said that the trade between the two sides has maintained a good momentum and the future trade volume will continue to increase.
It is understood that Azerbaijan is China’s largest trading partner in the South Caucasus – 45% of China’s trade with the region comes from Azerbaijan. In recent years, China has seen the potential of Azerbaijan’s trans-Caspian transport corridor and expressed support for the corridor project. The AIIB provided loans to Azerbaijan’s “Across Anatolia” gas pipeline project. China and Arab countries will also start negotiations on preferential trade agreements.
Azerbaijan is also further expanding and enhancing bilateral trade with China. Temur revealed that the country has recently set up four business representatives around the world, one of which is in China. “We opened two wine centers (located in Chengdu and Xi’an) and a trade center (located in Zhangzhou) in China last year. In the future, we plan to set up a center in Urumqi to expand the promotion channels for quality products.”
The “Belt and Road” is not only a road to development and prosperity, but also a road to civilization. The exchanges between the two sides in the humanities are also strengthening. At the seminar, Azerbaijan HIS Travel Agency representative in China, Alia Haschmowa, said that Azerbaijan welcomed more than 10,000 Chinese tourists in 2017 and welcomed more than 12,000 Chinese tourists in 2018, an increase of 20%. . “The good news is that in the first quarter of this year alone, the growth rate of Chinese tourists has reached 45%.”
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