Elnur Aliyev: Azerbaijani entrepreneurs may implement joint projects with partner countries

Azerbaijani entrepreneurs may increase their initiatives, benefit from international financial mechanisms, implement joint projects with partner countries, and expand their businesses, First Deputy Economy Minister of Azerbaijan, Elnur Aliyev, said, Report informs.

Speaking at a conference titled "Constitution and Sovereignty - Development of Entrepreneurship in Azerbaijan", Aliyev noted that Azerbaijan is further strengthening bilateral economic and trade relations with countries: "Preferential trade agreements have been signed with Türkiye and Pakistan. According to these agreements, the reduction or complete elimination of customs duties on certain products with partner countries stimulates the development of mutual trade and increases the export opportunities of entrepreneurs."

The deputy minister recalled that joint investment funds have been established with Uzbekistan, Kyrgyzstan, Kazakhstan, and the United Arab Emirates to develop the country's investment environment:

"Also, the Turkic Investment Fund established by Azerbaijan, Türkiye, Kazakhstan, Kyrgyzstan, and Uzbekistan aims to strengthen mutual economic cooperation, increase investments in strategic areas, and support regional development. The expansion of our country's foreign economic and trade relations also opens additional opportunities for our entrepreneurs.

Just these days, within the framework of the head of state's visit to China, the signing of the Declaration on the Expansion of Strategic Partnership between the two countries, the application of a visa-free regime, as well as the signing of nearly 20 cooperation documents in the fields of law, green development, alternative energy, digital economy, intellectual property, and aerospace is very important in terms of Azerbaijan's access to the Asian market, getting to know the region closely, and establishing new partnerships," Aliyev explained.

He also highlighted that that as part of a visit to China organized this month with the support of the Ministry of Economy, the total volume of investment projects signed with Chinese companies amounts to approximately $335 million, which creates new opportunities for our country's businesspeople.