BAKU, Azerbaijan, April 21. During the China-Azerbaijan Industrial and Investment Cooperation Promotion Conference, Yusif Abdullayev, Executive Director of the Export and Investment Promotion Agency of Azerbaijan (AZPROMO), met with Wu Hongliang, Deputy Director General of Foreign Capital and Overseas Investment, National Development and Reform Commission (NDRC), AZPROMO told Trend.
The two sides discussed the organization of joint business events and the development of investment partnerships based on mutual interests. They emphasized the conference's importance as a platform for promoting and advancing Azerbaijan-China investment partnerships, highlighting the need to continue implementing the discussed mechanisms in the future.
The meeting noted that the participation of nearly 200 companies from both sides at the conference visibly demonstrated the active and ready collaboration of the business communities in China and Azerbaijan for the realization of joint projects and the development of mutually beneficial partnerships.
During the meeting, it was highlighted that the Memorandum of Understanding (MoU) signed between AZPROMO and NDRC during the conference would facilitate the process of attracting Chinese companies to invest in Azerbaijan, thus positively impacting the influx of Chinese capital into the country.
The China-Azerbaijan Industrial and Investment Cooperation Promotion Conference was held on April 17 with the joint organization of AZPROMO, Azerbaijan’s Trade Representative Office in China, and the NDRC, with support from the Beijing Municipal Commission of Development and Reform. During the event, a Memorandum of Understanding was signed between the AZPROMO and the NDRC's International Cooperation Center.
AZPROMO was founded in 2003 by the Ministry of Economy of Azerbaijan to facilitate foreign investment in the non-oil industry and promote exports of non-oil products. The agency's primary objective is to enhance the nation's economy by soliciting international investment and fostering exports in the non-oil sector. To date, the agency has conducted 33 export trips to international destinations under the "Made in Azerbaijan" initiative.
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