Baku hosts 10th meeting of Azerbaijan-China Intergovernmental Commission on Trade and Economic Cooperation
Baku, April 16, AZERTAC
The 10th meeting of the Azerbaijan-China Intergovernmental Commission on Trade and Economic Cooperation was held in Baku on Wednesday. The meeting was co-chaired by Deputy Prime Minister of Azerbaijan Shahin Mustafayev and China’s Vice Minister of Commerce and Deputy China International Trade Representative Ling Ji.
In his opening remarks, Shahin Mustafayev described the meeting as a vital platform for reviewing the implementation of the instructions issued by the heads of state and discussing the near-term prospects for the development of Azerbaijan-China relations.
Highlighting the positive momentum in bilateral ties, Mustafayev noted that, thanks to the political will and joint efforts of President Ilham Aliyev and President Xi Jinping, relations between the two countries have reached their highest level. He underscored that the adoption of the Joint Declaration on the establishment of a strategic partnership, signed by the presidents last year, marked a significant milestone.
Mustafayev emphasized the steady growth in trade and economic cooperation, with China remaining one of Azerbaijan’s key partners. Azerbaijan is currently China’s largest trading partner in the South Caucasus. Bilateral trade turnover increased by 21 percent last year, reaching approximately $3.7 billion. In the first quarter of this year alone, mutual trade grew by 37 percent, surpassing $1 billion. Azerbaijan reaffirmed its interest in expanding exports of agricultural and food products to China.
The meeting also highlighted positive trends in investment cooperation, particularly in the sectors of industry, oil and gas, petrochemicals, green energy, high technologies, innovation, and space. Chinese investments in Azerbaijan have reached nearly $942 million, while Azerbaijani investments in China, including those from the State Oil Fund, amount to about $2.1 billion.
Mustafayev announced that, as part of President Ilham Aliyev’s upcoming visit to China, a joint project to localize electric bus production in collaboration with BYD will be launched.
Green energy was identified as a strategic priority for bilateral cooperation, leveraging Azerbaijan’s significant potential and China’s advanced technological capabilities.
Mustafayev also reported progress in the transport and transit sectors, noting that transit shipments between Azerbaijan and China increased by 86 percent last year, reaching 378,000 tons. The Baku International Sea Trade Port and the Baku-Tbilisi-Kars railway were discussed as vital infrastructure projects offering the shortest and most efficient transportation route between China and Europe.
The Chinese delegation was briefed on the favorable investment climate in Azerbaijan’s liberated territories. Mustafayev invited Chinese companies to take advantage of these opportunities.
He also noted that the restoration of the region’s transport and communication system holds great promise, and the implementation of the Zangezur corridor will contribute to peace and security, while also playing a key role in the Belt and Road Initiative as part of the Middle Corridor.
Ling Ji reaffirmed China’s support for Azerbaijan’s accession to the World Trade Organization and expressed readiness to cooperate in this process. He also noted China’s interest in boosting mutual investments and trade and proposed establishing more Azerbaijani trading houses in China.
The meeting also addressed cooperation in cocoon breeding and explored opportunities for deeper collaboration in information technology, the space industry, high technologies, healthcare, and tourism.
Tourism was another focal point, with both sides noting a significant rise in mutual tourist flows. The increase in Chinese visitors was attributed to Azerbaijan’s decision to unilaterally waive visa requirements for Chinese citizens. A bilateral agreement on mutual visa-free travel is expected to be signed during the upcoming presidential visit, which is anticipated to further enhance bilateral contacts.
As a result of the discussions, it was agreed to establish a Working Group on Investment Cooperation to serve as a key platform for addressing investment-related matters on a regular basis.
Following the meeting, an Agreement on the Establishment of a Joint Investment Cooperation Working Group and the Protocol of the 10th Meeting of the Azerbaijan-China Intergovernmental Commission were signed.
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