Jordan Has Good Opportunities to Export Competitive Non-Oil Products to Azerbaijan: Deputy Minister
Azerbaijan, Baku, 6 May / corr. Trend I. Khalilova/ Azerbaijan expects the expansion of cooperation with Jordan in almost all the spheres such as the production of agricultural and pharmaceutical products, building materials excluding production facilities etc, Mikhail Jabbarov, the Azerbaijani deputy economic development minister said after Azerbaijan-Jordan business forum.
"There are broad opportunities for cooperation, and opening of Baku-Amman flights in early May will contribute to establish ties between businessmen and development of tourism," deputy minister said.
Some 88 businessmen from Jordan took part in the business forum, with pavilions of 36 companies being represented in Jordan national exhibition. Some 150 businessmen from Azerbaijan took part in the forum.
The business opportunities of Jordan were first represented in Azerbaijan two years ago. The deputy minister believes that the interest for joint realization of projects will grow after the business forum. The Agreement on Mutual Protection of Investments and on Refraining from Double Taxation signed on 5 May in Baku will serve as an impetus for it, he said.
In spite of the fact that Jordan does not possess natural resources, the specific gravity of the income in total Azerbaijani GDP exceeds that of Jordan per head by 10-12%.
"It means that the economy of Jordan has good opportunities to export competitive goods to Azerbaijan," Jabbarov said.
Though the trade turnover between Azerbaijan and Jordan made up $1.291.800 (0.01% of the total trade turnover of Azerbaijan) as a result of 2007, the deputy minister believes that the trade relations will improve due to the intensification of contacts from 2008 onwards. In 2007, the businessmen only established the relations as Azerbaijani businessmen had no information about the Jordan products until 2006.
There is cooperation with Jordan in the energy sphere and investment decisions need time, said Jabbarov.
Azerbaijan needs the experience of Jordan in establishing the free economic zone. The Ministry of Economic Development has already sent Bill on Free Economic Zones to the Presidential Administration.
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