ECONOMY


Beijing hosts 5th meeting of Azerbaijan-China Intergovernmental Commission on trade and economic cooperation

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Beijing, November 27, AZERTAC

Beijing has hosted the 5th meeting of the Azerbaijan-China Intergovernmental Commission on trade and economic cooperation.

The meeting focused on cooperation in the field of transport, as well as usage of transportation-logistic opportunities from China to Europe and vice versa, enrichment of cooperation in the spheres of agriculture, energy and bilateral investment.

Chinese co-chair of the Commission, Vice Minister of Commerce Zhong Shan stressed China attached great importance to the development of the ties with Azerbaijan. Noting Azerbaijan is a significant partner of China in the South Caucasus, Shan underlined the positions of the heads of the two countries in strengthening the relations between Azerbaijan and China.

Azerbaijani co-chair, Deputy Premier Abid Sharifov drew attention to the stable development of Azerbaijan in the period of financial-economic crisis. Stressing the expansion of the ties with China is a priority for Azerbaijan, the Deputy Premier said that tens of Chinese companies are successfully operating in Azerbaijan.

Touching upon the Armenia-Azerbaijan Nagorno-Karabakh conflict the Deputy PM stressed that Armenian non-fulfillment of the UN Security Council`s resolutions was a threat to peace and stability in the region.

Addressing the meeting, the Azerbaijani members of the Commission informed about the transport-logistic opportunities of the country, its favorable position in transportation, development of the infrastructure, as well as the project of the Baku-Tbilisi-Kars railway and the Baku International Sea Trade Port. Transportation of cargo to Europe via Azerbaijan and vice versa will decrease the transportation expenses significantly and the waste of time by three times.

The meeting featured discussions on cooperation opportunities, as well as joint activity in alternative and renewable energy sources, bilateral investment issues, establishment of joint industrial and agricultural institutions and participation of Chinese companies in the economic projects implemented in Azerbaijan.

The parties signed the minutes of the meeting at the end of the event.

As a part of the visit, the Azerbaijani delegation has met Chinese deputy PM Wang Yang to exchange views on the issues discussed at the meeting of the Commission.

During the meeting with Chinese minister of transport Yang Chuantang the parties discussed the cooperation prospects between the two countries.

The Azerbaijani delegation also held a meeting at the China State Railway Administration where they organized a presentation on the transport-logistics potential, favorable transit opportunities.

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