BAKU, Azerbaijan, April 16. The volume of mutual trade between Azerbaijan and China totaled $1.02 billion in the first three months of this year, which is 37 percent more than in the same period last year, Trend reports.
According to information, this was announced on April 16 at the 10th meeting of the Azerbaijan-China Intergovernmental Commission on Trade and Economic Cooperation in Baku.
The meeting emphasized that cooperation in trade and economic sphere is constantly developing, and China is one of the main economic and trade partners of Azerbaijan.
However, it was noted that Azerbaijan is also China's largest trade partner in the South Caucasus. The growth trend of trade turnover between the two countries last year amounted to 21 percent ($3.7 billion). In the first three months of this year, the positive dynamics were maintained, and the volume of mutual trade increased by more than 37 percent (-$1.02 billion).
Azerbaijan, in particular, reiterated its interest in expanding exports of agricultural and food products to China.
The positive dynamics observed in investment cooperation in the sectors of industry, oil and gas, petrochemicals, green energy, high technology, innovation, and space industry were also noted. The volume of investments from China to Azerbaijan reached $942 million. At the same time, the total volume of Azerbaijan's investments in China, including the State Oil Fund, increased to about $2.1 billion.
The meeting was chaired by Shahin Mustafayev, Deputy Prime Minister of the Republic of Azerbaijan, Co-Chairman of the Commission, and Ling Ji, Deputy Minister of Commerce of the People's Republic of China, International Trade Representative of China.