French Development Agency enters Azerbaijani market
Azerbaijan, Baku, Oct.7 / Trend, N. Ismayilova /
Azerbaijani Economic Development Ministry and the French Development Agency (AFD) signed a memorandum of understanding in Baku regarding AFD's activity in Azerbaijan on Friday, the ministry told Trend on Friday.
From the Azerbaijani side the document was signed by the Economic Development Minister Shahin Mustafayev, while from the French side - the Agency's Director Jean-Jacques Moineville.
The memorandum was signed within the French President Nicolas Sarkozy's official visit to Azerbaijan.
During the Azerbaijani Finance Minister Samir Sharifov's recent visit to France the possibility of establishing a joint investment fund between JSC "Azerbaijan Investment Company" and financial institutions in France was considered. The main purpose of this idea is to develop non-oil sector and implement investment projects in this sphere.
Trade turnover between the two countries hit $2.69 billion in January-July 2011, including 2.39 billion accounted for Azerbaijan's exports. Trade turnover between Azerbaijan and France compared to the same period of 2010 increased by 2.5 times.