ECONOMY


Azerbaijan, Japan discuss prospects for economic and trade relations

Baku, February 23, AZERTAC

The 9th joint meeting of the State Commission on Economic Cooperation between Azerbaijan and Japan, and Japan-Azerbaijan Economic Committee has taken place in Baku.

Azerbaijani Deputy Prime Minister, co-chair of the commission Abid Sharifov said Japan was one of the first countries to recognize Azerbaijan`s independence and establish relations with the country.

He emphasized that Japanese companies are closely involved in the oil and gas sector of Azerbaijan, and expressed hope that this cooperation would expand.

Sharifov noted the importance of discussing steps to increase trade between the two countries.

He called on Japanese companies to cooperate with Azerbaijan in a number of areas, including the establishment of new industrial enterprises, ICT, space industry, water industry and irrigation, alternative and renewable energy sources.

Co-chair of the commission, Vice Chairman of Itochu Corporation Yoichi Kobayashi hailed rapid development of relations between the two friendly countries, saying this can set an example to other countries.

Japan's State Minister of Economy, Trade and Industry Yoshifumi Matsumura expressed his country`s interest in developing cooperation with Azerbaijan in the oil and gas sphere.

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