German companies interested in expanding economic co-op with Azerbaijan

Economy Materials 18 October 2021 17:54 (UTC +04:00)
German companies interested in expanding economic co-op with Azerbaijan

BAKU, Azerbaijan, Oct. 18

By Sadraddin Aghjayev - Trend:

German companies are interested in expanding economic cooperation with Azerbaijan, Deputy Director of the German-Azerbaijani Chamber of Commerce Nigar Bayramly said in an interview with Trend.

According to Bayramly, 65 percent of Germany's trade in the South Caucasus falls on Azerbaijan.

"Moreover, Azerbaijan ranks ninth among the largest suppliers of petrochemicals. German companies in the Azerbaijani market are presented as suppliers of goods with the best quality, namely: cars and auto parts, machinery and equipment, chemicals and pharmaceuticals," she noted. "Over the past two years The COVID-19 pandemic negatively affected the trade and investment plans of German companies in Azerbaijan, however, Germany remains the fifth largest trading partner. Our companies are preparing for the expected implementation of existing projects."

Besides, according to her, on November 22-26 this year, the Chamber of Commerce will organize a visit of German companies to Azerbaijan.

"To study the Azerbaijani market, visit of companies from such sectors as construction, transport, and logistics is expected. We also plan to organize a business trip to Azerbaijan for German companies representing the renewable energy sector," Bayramly added.

She emphasized that business ties between the two countries will continue to strengthen and in the future, additional sectors may be offered to German companies and investors, contributing to the expansion of economic cooperation.


Follow the author on Twitter: @agdzhaev