Azerbaijan and China forge stronger economic ties with 13 signed agreements
Beijing, April 17, AZERTAC
A high-level China-Azerbaijan Industrial and Investment Promotion Conference, supported by Azerbaijan's Ministry of Economy and organized by AZPROMO, the Azerbaijani Trade Representative Office in China, and the International Cooperation Center of China's NDRC, convened in Beijing.
The conference, themed "Bridge of Development: Expanding Industrial and Investment Cooperation," served as a key platform for enhancing bilateral economic collaboration and promoting strategic investments. Approximately 250 government officials, investors, and business leaders engaged in dialogue aimed at fostering trust and long-term partnerships.
The event's objectives included showcasing Azerbaijan's attractive investment climate and opportunities, highlighting the support provided by Azerbaijani institutions to foreign investors, facilitating direct engagement with Chinese investors, and laying the groundwork for sustained industrial cooperation and capital inflows. The target audience comprised Chinese companies and investment firms exploring international ventures, government agencies, and trade associations.
Azerbaijan's Ambassador to China, Bunyad Huseynov, underscored the strategic importance of the relationship, noting the friendly and cooperative spirit. He highlighted the previous year's Joint Declaration on strategic partnership between Presidents Ilham Aliyev and Xi Jinping and pointed to ongoing efforts to broaden cooperation across energy, transport and logistics, industry, agriculture, and other sectors.
Emphasizing that Azerbaijan is China's largest trading partner in the South Caucasus, the diplomat added that China is Azerbaijan's 4th largest trading partner and the largest source of imports. He noted Azerbaijan's early support for the Belt and Road Initiative and its significant contributions through transport and infrastructure projects, establishing efficient and secure routes between China and Europe. The Middle Corridor's growing importance in the current geopolitical landscape was also highlighted.
Ms. Jiang Hua of China's NDRC emphasized Azerbaijan's historical significance on the Silk Road and the enduring friendship between the two nations. She stated that the Belt and Road Initiative presents new avenues for economic and trade growth and stressed the importance of encouraging Chinese companies' involvement in Azerbaijani industrial and infrastructure projects.
Yusif Abdullayev, Executive Director of AZPROMO, noted the positive trajectory of bilateral economic and trade relations, highlighting joint projects in automotive, industrial, ICT, transport and logistics, and other sectors.
Azerbaijan's Trade Representative in China Teymur Nadiroglu emphasized that the conference was a direct outcome of the 2023 Framework Agreement on production capacity and investment cooperation. He emphasized Azerbaijan's political and economic stability, strategic location, and favorable business climate as key advantages for Chinese investors seeking a regional hub and production base.
Mr. Nadiroglu highlighted Azerbaijan's crucial role in the Belt and Road Initiative through its strategic geography and modernizing infrastructure, positioning it as a vital center for integrating production and trade. He encouraged Chinese companies to establish operations in Azerbaijan's industrial parks, economic zones, and the Alat Free Economic Zone, offering various incentives and access to both local and neighboring markets, citing existing successful ventures.
The Trade Representative also noted the role of Azerbaijani trade houses in several Chinese cities in promoting Azerbaijani products, investment opportunities, and tourism potential.
Presentations were delivered by Valeh Alasgarov (Alat Free Economic Zone), Orkhan Mammadov (KOBİA), Fariz Jafarov (4SIM), and representatives from the Azerbaijan Renewable Energy Agency, SOCAR, Azerbaijan Investment Holding, AZPROMO, and Azerbaijan Railways, showcasing over 15 investment projects across various sectors including heavy industry, mining, agriculture, light industry, and green energy.
Representatives from Chinese companies with existing or planned investments in Azerbaijan shared their project details. Officials from Tianjin's Wuqing District and the Beijing Economic-Technological Development Area also shared their experiences.
The event culminated in the signing of 13 cooperation and investment agreements between institutions from both countries.
The conference venue featured informational displays on Azerbaijan's economy, business climate, the Trans-Caspian International Transport Corridor, AZPROMO's investor services, the Trade Representative Office, the Economic Zones Development Agency, the Alat Free Economic Zone, KOBİA, the Karabakh and East Zangezur Economic Regions, 4SIM, the Agrarian Credit and Development Agency, the State Oil Fund, SOCAR, and Azerbaijani trade houses in China.
A dedicated session facilitated direct dialogue between Chinese investors and Azerbaijani state representatives on large-scale cooperation, investment terms, and strategic priorities, followed by B2B meetings.
Shahin Jafarov
Special Correspondent of AZERTAC
Beijing
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