Chinese ambassador to Azerbaijan Wei Jinghua has stressed that China and Azerbaijan are true friends and reliable partners.
“From the day of the establishment of diplomatic ties, the two countries have developed their relations based on mutual trust and respect,” said Jinghua at a reception marking the 68th anniversary of the founding of the Chinese People’s Republic.
He emphasized national leader Heydar Aliyev`s and President Ilham Aliyev`s tremendous contributions to the development of bilateral relations between Azerbaijan and China.
Addressing the event, Minister of Culture and Tourism Abulfas Garayev said China was one of the first countries to recognize Azerbaijan`s independence in 1991.
He also hailed the development of Azerbaijan-China ties.
Economic ties between Azerbaijan and China play a large role in the bilateral political relationships. The two share a common interest in boosting the collaboration and partnership, as the rapid rise of China and Azerbaijan, and the growing integration between them, has a clear boost for regional projects.
Azerbaijan can make a great contribution to the implementation of the China Economic Silk Road Initiative, which provides for deepening economic relations between the countries located on the historical Silk Road.
Azerbaijan also seeks to export some products to China at lower prices.
In June, Teymur Nadiroglu was appointed the trade representative of Azerbaijan in China, in a bid to expand non-oil exports, promote the ‘Made in Azerbaijan’ brand and attract investment in the country.
AZPROMO signed a Memorandum of Understanding (MoU) with China Council for the Promotion of International Trade (CCPIT) in early August. The document provides for the development of trade, economic and investment relations between the two countries, as well as promotion of export and exchange of experience.
Overall, trade turnover between China and Azerbaijan has grown 800-fold over the past two decades. Initially, bilateral trade amounted to only $1.5 million, while in 2004, it jumped to $200 million, and $368 million in 2006. By 2013, the trade turnover reached around $1.5 billion.
Today, China takes the 4th place in the overall trade turnover of Azerbaijan, 3rd place - in exports and imports.
The trade turnover between Azerbaijan and China amounted to $964.68 million in January-August 2017, which is an increase by 78.8 percent as compared to the same period of 2016, according to the State Customs Committee of Azerbaijan.
azernews.az