Deputy Minister: Germany invested in Azerbaijan's economy more than $ 450 million
Azerbaijan, Baku, Nov. 12 /Trend A.Akhundov/
Amount of German investments in Azerbaijan is more than $ 450 million, Deputy Minister of Economic Development Niyazi Safarov stated during a speech at the opening of the Azerbaijani-German Chamber of Commerce in Baku on Monday.
"In Azerbaijan is working 105 companies with German capital, there are 10 joint projects, total amount with considering Azerbaijani government investment is 460 million euros," - Safarov said.
According to him, for the development of bilateral relations there is a robust regulatory framework, there are more than 60 intergovernmental agreements.
"An indicator of the development of relations between the two countries is good growth of mutual trade. So in 2011 turnover increased in 2.2 times, in January-September of this year for 70 percent. We have great potential for further expansion of mutual trade," - Safarov said.
According to him, today Germany has provided as technical assistance to Azerbaijan 45 million euros, in grants - 20.1 million euros, in the framework of financial cooperation - 244 million euros.