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Azerbaijani-Chinese free economic industrial town to be established in Baku

23 May 2018 18:40 205

BAKU. KAZINFORM An Azerbaijani-Chinese free economic industrial town is planned to be established in Alat, Azerbaijani Economy Minister Shahin Mustafayev said May 22 at a meeting with Chairman of the Board of the China Export & Credit Insurance Corporation (SINOSURE) Wang Yi.


The Minister of Economy, noting the level of development of relations with China in the areas of transit transport, logistics, trade, investment, tourism, and humanitarian sphere, brought to attention the possibility of expanding economic cooperation between Azerbaijan and China, Trend reports.

He noted that the implementation of projects in the fields of metallurgy, agriculture, and petrochemistry, designed for joint implementation by the companies of Azerbaijan and China, will have an important place in the development of economic relations between the two countries.

The minister noted that in February 2018, within the framework of the visit of the Azerbaijani delegation to China, an international conference "The role of the Trans-Caspian international trade and transport route "East-West" in the implementation of the "One belt, one road" initiative", as well as various meetings with Chinese officials were organized in Beijing.

It was noted that in 2017 the trade turnover between the two countries amounted to $1.3 billion. Currently, there is a trade representation of Azerbaijan in Beijing, and it is planned to open a Trade House of Azerbaijan in Shanghai and wine houses in Beijing and Shanghai. All this will contribute to the further expansion of trade relations, Mustafayev said.

Chairman of the Board of the Corporation Wang Yi informed about SINOSURE's activities and stressed that the corporation is interested in insurance of projects implemented in Azerbaijan. It was noted that the corporation cooperates with more than 250 banks in the world.



Keywords: Azerbaijan , China,