China is one of the main economic and trade partners of Azerbaijan: the volume of trade turnover in January-July 2024 amounted to $2 billion, having increased by 21%, Deputy Prime Minister of Azerbaijan Shahin Mustafayev said at an event dedicated to the 75th anniversary of the PRC, Report informs.
Mustafayev also noted that cooperation in the field of investment between the two countries is developing rapidly: "256 commercial organizations with Chinese investments are actively operating in Azerbaijan. We will continue to provide the necessary support to Chinese companies so that they can take advantage of the favorable business environment in Azerbaijan."
According to him, transit transportation is one of the main areas of cooperation between the two countries.
"Azerbaijan has implemented large-scale transport infrastructure projects to increase transit potential. Transport corridors passing through our country, the Baku International Sea Trade Port, the Baku-Tbilisi-Kars railway and other projects make the shortest and most efficient routes for the delivery of goods from China to Europe and back. As a result, Azerbaijan has become the main transport hub of the region," said Mustafayev.
The Deputy Prime Minister recalled that currently there are six Azerbaijani trading houses and three wine houses operating in China.
According to him, Azerbaijan, as a country hosting COP29, is also interested in China's experience in combating climate change.
"We welcome the participation of the official Chinese delegation at COP29 and are interested in China's advanced experience in combating climate change. In order to ensure domestic production of buses, cooperation was launched with the Chinese BYD Company Limited, an agreement was signed on the imports of electric buses within the framework of COP29. The cooperation also provides for the creation of domestic production, including spare parts, a state guarantee for the purchase and joint financing in 2025," noted Mustafayev.