Azerbaijan’s export potential increases by 5-6 times

Recently, Deputy Minister of Economy of Azerbaijan, Mamedov, stated at the 35th meeting of the Islamic Chamber of Commerce, Industry and Agriculture Council held in Baku, “Azerbaijan’s export potential has increased 5-6 times in recent years


Mamedov said, “We have created a favorable environment for investment inflows. Many cooperation related to socio-economic development will be signed in Azerbaijan


Mamedov pointed out that Azerbaijan has sufficient favorable mechanisms to successfully implement socio-economic policies.


He said, “In the past few years, Azerbaijan’s export potential has increased 5-6 times. The private sector accounts for 37% of GDP. Azerbaijan has achieved many achievements in the economic field, and we are working to expand the business environment


He also pointed out that in recent years, Azerbaijan’s relations with Islamic chambers of commerce, industrial and agricultural member countries have been strengthened. He said, “Considering the potential of Muslim countries, it is necessary to further expand this cooperation. Overall, the interest of Muslim countries in Azerbaijan is increasing

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Azerbaijani President Ilham Aliyev recently accepted an exclusive interview with CCTV’s “High-end Interview” program, when talking about the current state of bilateral relations between China and Azerbaijan, the Azerbaijani president’s answer is “very good”.

He explained that China-Arab relations cover a wide range and the prospects for cooperation are very clear. This is thanks to the direction of cooperation set by the leaders of the two sides during the SCO Summit last year, which has set clear goals for the long-term development of bilateral relations. He looked forward to further strategic cooperation between the two sides, stressing that the positions of the two countries on the international affairs agenda are highly consistent. Located at the junction of the Eurasian continent, Azerbaijan has unique location conditions, being the intersection of north-south and east-west transportation routes, but it has been unable to fully exploit its location advantages due to the lack of transportation infrastructure. The Azerbaijani president said in the interview that under the Belt and Road Initiative, Azerbaijan has been able to actively promote the construction of transportation infrastructure, with a view to achieving connectivity with China and neighboring countries and further opening up its door. At present, with the expansion of trade seaports, the increase in the number of ships built, and the promotion of railway modernization, the volume of sea and land freight in Azerbaijan is constantly increasing, and the freight time is greatly shortened.

Referring to the cultural values and cultural integration in the Belt and Road Initiative, the Azerbaijani president told the Crown, host of the High-end Interview program, that the countries along the ancient Silk Road were diverse societies with multi-ethnic groups, and trade exchanges “promoted friendship and interaction between countries.” He said that Azerbaijan has successfully protected its cultural heritage and will continue to cherish and protect these valuable cultural treasures and pass them on to the next generation.

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As early as over two thousand years ago, the people of the two countries maintained trade and cultural exchanges through the ancient Silk Road. “Jenali said that Azerbaijan and China have rich and diverse cultures and a long history, which is fully reflected in many historical ancient cities, modern multicultural landscapes, and the warm hospitality tradition that has been inherited from the ancient Silk Road period.


Having a rich cultural heritage is one of the commonalities between us and China, which has played an important role in establishing lasting connections between the two peoples. “Jenali said that as early as the 12th century, the famous Azerbaijani poet and thinker Nizami Ganjavi depicted the image of a beautiful and intelligent Chinese woman in his long poem” Seven Beauties “, proving the long-standing cultural bond between the two peoples. After more than two thousand years, a new bond has emerged between Azerbaijan and China


As an important cooperative partner of China in Eurasia, Azerbaijan is also one of the first countries to respond to and actively participate in the joint construction of the “the Belt and Road”.


In recent years, in order to connect with the “the Belt and Road” initiative, Azerbaijan has launched many large-scale infrastructure projects, including Baku International Maritime Trade Port, Baku Tbilisi Kars Transnational Railway and Aliyat free economic zone. With the smooth progress of the China Arab joint construction of the “the Belt and Road”, the circulation of goods between the two sides has become more smooth.


According to the news released by the Chinese Embassy in Azerbaijan, cross-border transportation is becoming a new growth point and highlight of cooperation between the two countries. In the first half of this year, the number of China Europe trains passing through Azerbaijan exceeded 70, a year-on-year increase of 50%, and multiple new routes from cities such as Xi’an, Chongqing, and Chengdu were added, with a total of over 10 routes. It is expected that the annual traffic volume will achieve significant growth and reach a new high.

According to Azerbaijan Customs statistics, Azerbaijan’s imports amounted to US$7.905 billion in 2018, an increase of 27.95% year-on-year. China is Azerbaijan’s fifth largest trading partner and the third largest source of imports. Gross domestic product: 79.973 billion manat (about 46.9 billion US dollars), per capita GDP: 8126.2 manat (about 4780.1 US dollars).
In 1818, 118,000 new jobs were created. The average monthly salary of workers nationwide is 544.1 manat (about $320). As of 2019, the population of Azerbaijan has grown year by year, reaching 103.127 million. In the first half of 2019 alone, the population was more than 122,000. The population growth and rejuvenation have injected more vitality into the local market!
Azerbaijan’s machine manufacturing and light industries are relatively backward. Most consumer goods are imported. In recent years, the government has strengthened macroeconomic regulation and control, while focusing on the development of the petroleum industry, while emphasizing the development of various economies, actively introducing foreign capital, promoting the development of small and medium-sized enterprises, and the macroeconomic situation tends to improve.
Azerbaijan, located at the junction of Eurasia, has a stable political situation and relies on energy for its economic development. The Afghan government pays attention to economic restructuring and emphasizes the development of the non-oil and gas economy in the economy. Azerbaijan is an important partner country along the “Belt and Road”. The “Belt and Road Initiative” will promote China-Arab cooperation in transportation facilities, trade, agriculture and tourism, and help China expand its influence and expand strategic security space in Central Asia. Azerbaijan’s market, business environment, backward infrastructure in non-oil and gas fields, and the security situation in the Transcaucasian region and the game of big countries in the region will all become challenges for China-Arab cooperation in the future.