Azerbaijan, Baku, May 27 / Trend, U.Ismayilova /
Government of Azerbaijan and China signed a grant agreement worth $2.9 million (20 million Chinese yuan) May 27, the Ministry of Economic Development of Azerbaijan said today.
"Directions of use of grant funds will be determined in future talks," the Ministry of Economic Development said.
Grant agreement with the Azerbaijani side was signed by the Minister of Economic Development of Azerbaijan Shahin Mustafayev and from the Chinese side - China's Vice Minister of Commerce Fu Ziying.
"The economic achievements of Azerbaijan in recent years are the focus of the Government of the People's Republic of China", Fu Ziying said at the signing ceremony.
"I hope that trade and economic relations between China and Azerbaijan will develop in the future," the deputy minister said.
Minister of Economic Development of Azerbaijan Shahin Mustafayev, in his turn stressed the importance of Azerbaijani President Ilham Aliyev visit to China in 2005 for greater development of bilateral relations, as well as other officials and business peoples' visits to the country.
"At present, there is real opportunity for greater development of relations with the use of existing capacity between the countries," the minister said.