BAKU, Azerbaijan, April 16. The 10th meeting of the Azerbaijan-China Intergovernmental Trade and Economic Cooperation Commission was held in Baku on April 16, Trend reports.
The meeting was co-chaired by Shahin Mustafayev, the Deputy Prime Minister of Azerbaijan and Co-chair of the Commission, and Ling Ji, the Deputy Minister of Commerce of the People's Republic of China and China's international trade representative.
Mustafayev opened the session by highlighting that the commission serves as an essential platform for discussing the implementation of the directives given by the leaders of both countries. It also plays a critical role in shaping the future development of relations between Azerbaijan and China.
He emphasized that, thanks to the efforts of the President of the Republic of Azerbaijan, Ilham Aliyev, and the President of the People's Republic of China, Xi Jinping, the two countries have entered a dynamic and multifaceted phase of bilateral relations. The trust-based personal ties and regular contacts between the heads of state are pivotal drivers of this development.
Mustafayev also noted the historical significance of the elevation of bilateral relations to a strategic partnership level last year. The Joint Declaration signed by the two leaders has laid a strong foundation for expanding cooperation between the nations.
Trade and economic collaboration continues to develop steadily, with China being one of Azerbaijan's key economic and trade partners. Azerbaijan is also China's largest trading partner in the South Caucasus. The growth trend in trade turnover between the two countries saw a 21 percent increase last year, reaching approximately $3.7 billion. The positive trend has continued into the first quarter of this year, with mutual trade volume rising by 37 percent, reaching over $1 billion.
Azerbaijan is particularly keen to expand exports of agricultural and food products to China, a sentiment reiterated during the meeting.
In addition to trade, the meeting also discussed successful dynamics in investment cooperation, particularly in the fields of industry, oil and gas, petrochemicals, green energy, high technologies, innovations, and space. Investments from China into Azerbaijan have reached nearly $942 million, while Azerbaijan's investments in China, including from the State Oil Fund, amount to approximately $2.1 billion.
During the meeting, Mustafayev also announced that, as part of the Azerbaijani President's upcoming visit to China, a joint project to localize the production of electric buses in collaboration with the BYD company will be launched.
Green energy cooperation remains a strategic priority, with both countries recognizing the potential for successful collaboration due to Azerbaijan's significant potential in the field and China's advanced technological resources and experience.
Mustafayev also reported on the progress of cooperation in the transport and transit sectors, with a notable increase in the volume of transit shipments between Azerbaijan and China, up by 86 percent last year. Large-scale infrastructure projects, such as the Baku International Sea Trade Port and the Baku-Tbilisi-Kars railway, were also discussed, as these projects provide the shortest and most efficient route for transportation between China and Europe.
The emerging opportunities in the liberated territories, shaped by new realities, were highlighted as a key point during the discussions. Deputy Prime Minister Shahin Mustafayev provided detailed information to Chinese officials about the modern infrastructure projects underway in these territories, as well as the future economic prospects. He also extended an invitation to Chinese companies to invest in these regions.
The meeting emphasized that the restoration of the region's transportation and communication systems holds tremendous potential. The implementation of the Zangezur corridor is expected to foster peace and security while significantly contributing to the "Belt and Road" initiative as a vital segment of the Middle Corridor.
Ling Ji, Deputy Minister of Commerce of the People’s Republic of China and China’s International Trade Representative, underscored his country's strong commitment to enhancing economic ties with Azerbaijan. He expressed interest in increasing the import volume and variety of Azerbaijani products, noting that particularly, pomegranates and wine have become highly popular among Chinese consumers. He also mentioned that there are significant opportunities to expand exports of poultry, hazelnuts, and almonds to China.
In addition, Ling Ji voiced his full support for Azerbaijan’s bid for membership in the World Trade Organization (WTO) and expressed China's readiness to collaborate with Azerbaijan in this regard.
Chinese officials reiterated their interest in expanding mutual investments and trade, suggesting an increase in the number of Azerbaijani trade houses in China.
The meeting also touched on the productive cooperation between Azerbaijan and China in the field of sericulture. This collaboration is expected to become more prominent in the reconstruction of the liberated territories. Specifically, 130,000 mulberry seedlings have already been sent to Khojaly for planting, with the project expected to yield successful results.
Tourism relations between the two countries were also discussed, with both sides noting the dynamic growth in mutual tourist flows. Last year, Azerbaijan saw a significant increase in the number of Chinese tourists, facilitated by Azerbaijan’s decision to unilaterally waive visa requirements for Chinese citizens.
An agreement on mutual visa-free travel is anticipated to be signed during the upcoming visit of Azerbaijan's President to China, which is expected to further enhance bilateral contacts and promote an increase in visits between the two countries.
The 10th meeting of the Azerbaijan-China Intergovernmental Commission on Trade and Economic Cooperation also focused on opportunities for deepening cooperation in various fields, including information technology (IT), the space industry, high technologies, healthcare, and tourism. There was strong confidence that the President of Azerbaijan's planned visit to China would take the bilateral relationship to new heights. Lin Ji emphasized China’s special regard for strengthening cooperation with Azerbaijan, particularly within the Caucasus region, and reiterated his country’s support for initiatives aligned with both national and economic interests.
As a result of the discussions, it was agreed to establish a Working Group on Investment Cooperation, which will serve as an important platform for addressing investment-related issues on an ongoing basis.
Following the meeting, an Agreement on the Establishment of a Joint Investment Cooperation Working Group was signed, as well as the Protocol of the Tenth Meeting of the Azerbaijan-China Intergovernmental Trade and Economic Cooperation Commission.
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