BAKU, Azerbaijan, September 1. Azerbaijan's Trade House will open in Beijing, Azerbaijani Minister of Economy Mikayil Jabbarov wrote on his page on X (Twitter), Trend reports.
"As part of our visit to the People's Republic of China, together with our colleagues, we'll hold meetings with several official representatives and leaders of companies. We'll participate in the opening ceremony of Azerbaijan's Trade House in Beijing and other events," he added.
Cooperation in the transport sector, within the Belt and Road project in particular, has boosted the volume of cargo transported from China through Azerbaijan to the West. The trade turnover between the two countries also saw growth over the last year.
The COVID-19 pandemic, that shook the whole world, could not but affect the cooperation between Azerbaijan and China. However, compared to the pre-pandemic figures, the trade turnover between the two countries in 2022 did not see any dramatic decrease and amounted to $2.15 billion ($2.18 billion in 2019). The stable increase is particularly evident, if compared annually. The figure of 2022 has increased by 20.7 percent year-on-year ($1.78 billion in 2021). Both in 2022, and 2021, China ranked fourth among the main trade partners for Azerbaijan.
Azerbaijan is working to expand its trade worldwide. The country opened a trade house in Qatar in 2022, and in Astana in 2021. Within the last several years, Azerbaijan opened trade houses in UAE, Russia, Ukraine, Belarus, Latvia, Poland.
This project is aimed at expanding the export of Azerbaijani products. An exporter can directly contact trading houses and send goods to any country through it. The mechanism is designed to stimulate and help Azerbaijani exporters.
