Azerbaijan, Baku, 31 January /corr. Trend I.Khalilova / The Government of Azerbaijan coordinated with Japan the date of the 5th joint meeting of the State Commissions for Economic Co-operation, which was fixed for 25-26 February, said the Azerbaijani Co-chair of the Commission, Vice Prime Minister, Abid Sharifov. From the Japanese side, the Commission is being headed by the Vice President of Japanese Itochu Corporation, Yokota Akira.
Currently the agenda of the meeting is being co-ordinated. "The Japanese side already determined and submitted to the Azerbaijani side a number of issues which will be discussed at the coming meeting," a source stated at Azerbaijan's Cabinet of Ministers.
The previous meeting took place in November 2006 in Baku, where an agreement was reached to strengthen economic co-operation. The Azerbaijani side is willing and suggested Japan to participate in financing railway and highway construction, settling problems with the water supply and sewerage system of the country's regions, agriculture, processing of solid wastes, support to business people, organization of air-conditioner production. Japan intends to continue supporting energy sector.
Currently Japan takes a leading position in Azerbaijan for the amount of investments. They will further increase in the near future because the suggested projects demand huge investments. The investments for improving water supply and sewerage system total nearly $300mln, road construction - $200-300mln, railway - $150-200mln, air-conditioner production - $100mln.
In 2007 Japanese investments for Azerbaijan amounted to $400mln.