Large U.S. investors head for Azerbaijan
Azerbaijan, Baku, Dec 8 /Trend A.Akhundov/
The potential of trade relations between Azerbaijan and the United States is currently more than $1.8 million, U.S. Ambassador to Azerbaijan, Matthew Bryza told Trend on Wednesday.
"The current turnover is very small, but it could become much more. We do not import energy from Azerbaijan, because our markets are distant, which greatly affects the rates, but we need to do more to expand current trade relations" Mr Bryza said.
He noted that it is important for both countries to work together to bring Azerbaijan into the World Trade Organisation (WTO) and to catalyse this process.
"If Azerbaijan continues to diversify its economy in the direction of information technology, tourism, transport and agriculture it will bring about a trade increase. The potential is even much greater and the main factor here is that we are friends and allies," Mr Bryza said.
He said that the United States has only just started to invest in Azerbaijan, due to both markets being very far from each other.
"Major U.S. investors still don't know the region well, but there is a growing interest from large non-energy sector companies, agriculture, industry, related to the energy sector and so on," Mr Bryza said.
He said that the acquisition of a new Boeing aircraft produced by the American company and used by CJSC Azerbaijan Airlines will play a big role in U.S. exports to Azerbaijan.
"An important part of the exports was the order for several Boeing and the satellite scheduled for launch in 2012. Azerbaijan is closely cooperating with Microsoft," he said.
He noted that information technology, transport, tourism and agriculture are very promising for American investments in Azerbaijan.