BAKU, Azerbaijan, June 5. China-Azerbaijan economic and trade cooperation has shown a positive development trend - bilateral trade has been steadily increasing in recent years, and China has already become Azerbaijan's fourth-largest trading partner and second-largest source of imports, Chinese Ambassador Lu Mei said, Trend reports.
She made the remark at the Azerbaijan-China Economic and Trade Cooperation Conference held in Baku today.
The official noted that investments between the two countries are steadily increasing.
"Statistics from the Azerbaijani side show that about 300 Chinese companies are operating in Azerbaijan, and the volume of Chinese investments in the country has exceeded $900 million. The volume of Azerbaijani investments in China is about $300 million.
Currently, the Chinese and Azerbaijani sides are not only satisfied with implementing specific projects in the fields of building materials, oil and gas exploration, infrastructure coordination, agricultural equipment, telecommunications, and technology but are also actively promoting cooperation in new areas such as wind energy, solar energy, and new energy vehicles," Mei also said.
The ambassador also noted that there is great potential to further enhance the level of China-Azerbaijan economic and trade investment cooperation.
"There is also a need to further expand the volume of bilateral trade and investment, further open up financing channels, and optimize the trade structure. The Chinese side is ready to fully implement the role of the mechanism of the intergovernmental commission on trade and economic cooperation between the two countries, together with the Azerbaijani side," she mentioned.
Mei also spoke about the advantages of Guangdong Province.
"Guangdong Province is economically strong, rich in industrial resources, and has a large market size. The Canton Fair (Guangzhou International Trade Fair), held in Guangzhou every year, is a world-renowned import-export trade fair. It's also an important platform for China to demonstrate its achievements in reform and open-door policy to the world.
The Guangdong-Hong Kong-Macao Greater Bay Area is becoming a global center in the fields of supply chain, finance, and scientific and technological innovation. The advantages and potential of Guangdong Province will provide a strong driving force for the high-quality development of China-Azerbaijan economic and trade cooperation.
Today, the delegation and entrepreneurs of Guangdong Province will closely familiarize themselves with Azerbaijan's development strategy, investment needs, and market opportunities and explore cooperation and exchange opportunities in energy transition, infrastructure, industrial production, scientific and technological innovation, and other fields.
The holding of the China Guangdong-Azerbaijan Economic and Trade Cooperation Forum will not only be a platform for deepening cooperation between Guangdong and Azerbaijan but also become a living example of enriching the comprehensive strategic partnership under the strategic leadership of the leaders of the two countries. We believe that as a result of this interaction and discussions, the parties will achieve the implementation of more high-quality cooperation projects. The Chinese Embassy in Azerbaijan will, as always, continue to support practical cooperation between the two sides in all areas," the ambassador concluded.
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