Azerbaijan, France to sign multi-billion dollar commercial agreements

Azerbaijan, France to sign multi-billion dollar commercial agreements

Baku, Azerbaijan, May 12

By Emin Aliyev - Trend:

Azerbaijan and France will create a trade and industry chamber, Azerbaijan's Economy and Industry Minister Shahin Mustafayev said Monday, May 12.

He made the remarks opening the Azerbaijani-French Business Forum in Baku, Azerbaijan.

"The corresponding agreement will be signed today. Aside from that, nearly dozens of commercial agreements on Azerbaijani and French entrepreneurs' joint projects, worth billions of dollars, will be signed as part of this forum," Mustafayev added.

He went on to say that the political and economic relations between Azerbaijan and France are developing progressively.

"The mutual visits of the heads of two states have played a special role in this. A total of 45 contracts and various documents have been signed between our countries - some 17 out of them are related to the economic cooperation," Minister Mustafayev stressed.

He went on to add that France is also one of the most important trade partners of Azerbaijan.

"Last year the trade turnover between the two countries stood at $1.56 billion and over $370 million in the first quarter of 2014, while this figure has grown by over 50 percent compared to the same period of last year. Joint projects worth over $1 billion have also been implemented," the minister underscored.

Mustafayev went on to say that Azerbaijan and France are also cooperating in the investment sphere.

"France has invested about $2.4 billion in Azerbaijan's economy. The greatest part of these investments accounted for the oil sector," Mustafayev said, pointing out the role of the French 'Total' and 'GDF Suez'.

He also stressed that some 91 companies from France are involved in the oil and gas projects in Azerbaijan as subcontractors.

Mustafayev also said a total of 200 million Euros was invested in the non-oil sector.

"As for the non-oil sector, France ranks only ninth in terms of the non-oil investments in Azerbaijan's economy, and there is a large unrealized potential in this area. At the same time, over 50 French companies are involved in the non-oil sectors' projects, worth about $1.8 billion - including the first Azerbaijani telecommunications satellite Azerspace, a plant for solid waste recycling and others," Azerbaijani minister stressed.

Nigerian troops kill 80 gunmen in July
Nigerian troops kill 80 gunmen in July
Ambassador Lee Litzenberger Visits Red Crescent Warehouse ahead of Delivery of Hygiene Supplies to 600 Households (PHOTO)
Ambassador Lee Litzenberger Visits Red Crescent Warehouse ahead of Delivery of Hygiene Supplies to 600 Households (PHOTO)
4.3-magnitude quake jolts Azerbaijan
4.3-magnitude quake jolts Azerbaijan
Loading Bars
Latest
Number of COVID-2019 cases across globe up by over 273,000 in past day - WHO
COVID-19 infection rate in Turkey increased since May, Koca warns
Iran's NirouChlor Company continues to export to European countries
Kazakhstan, Vietnam trade turnover down twofold
China to implement new construction project in Georgia
Russia's import of Turkish defense products grows despite pandemic
Africa's COVID-19 cases surpass 1.03 mln as death toll rises to 22,966
Erdogan says Turkey becomes 3rd to develop COVID-19 vaccines
Iranian Energy Exchange announces products for sale on August 10
Exit poll: Lukashenko winning 79.7% of votes at Belarus’ presidential election
All polling stations close in Belarus, vote count in progress
Azerbaijan plans to amend legislation to support local production
Greece registers highest daily tally of COVID 19 cases
Larsi border checkpoint employee tests positive for COVID-19 in Kakheti
Another 8 coronavirus-related fatalities registered in Kyrgyzstan
Bahar Azadi gold coin price falls in Iran
Turkey's domestic car project attracting global players' interest
2 civilians killed, 5 troopers injured as blast rocks western edge of Kabul city
Weekly review of key developments in financing, agricultural sector of Azerbaijan
Gov't allows 101 Georgian citizens to enter Turkey
Pandemic fuels e-commerce boom in Turkey
Kazakhstan's export to Poland slightly down amid COVID-19
Iran's South Pars Gas Company begin repairs
1 dead, at least 20 injured in Washington D.C. shooting
Weekly review of events in financial market of Azerbaijan
Presidential election in Belarus declared valid
Production of major Iranian steel companies up
Volume of wheat purchased in Iran's Markazi Province increases
Prime Minister of India to inaugurate submarine cable connectivity to Andaman & Nicobar Islands 10th August
India begins examination of plane's black box after deadly crash
Doctor infected with COVID-19 working in several clinics in Gori and Tbilisi
5 killed, dozens injured in Istanbul bus crash
Kyrgyzstan's total number of recoveries from COVID-19 surpasses 31,820
"TurAz Qartalı - 2020" exercises continue with participation of helicopters (PHOTO/VIDEO)
5.1-magnitude quake shakes west of Iran
Azerbaijan launches tobacco drying enterprise in Tovuz district (FOTO)
Iran declares amount of investment in Bushehr port
Iran reveals its COVID-19 data for August 9
Azerbaijan reports 308 new COVID-19 recoveries
Samsung remains most-used mobile device in Azerbaijan
Iran's Shahid Salimi TPP boosts its production
US expert: Development of Amulsar mine causes tremendous pollution of fresh-water resources in Caucasus
Turkey reports 1,172 new COVID-19 cases
Georgia reports 9 new cases of COVID-19, 4 recoveries
COVID-19-like pneumonia affected over 1,000 more Kazakhstanis, killing 15
Turnout at Belarus presidential election reaches 45.33%
Iran discloses volume of wheat purchased in Ardabil Province
Azerbaijani government to support entrepreneurs in digital infrastructure dev't
Iran reveals value of exports via Kermanshah Province to Iraq
Special Forces Units also involved in first stage of Azerbaijani-Turkish tactical exercises (PHOTO/VIDEO)
Saffron to be auctioned in Iran
Azerbaijan reveals daily crude oil production for July 2020
Early voting turnout at 41.7% in Belarus
Iranian currency rates for August 9
Polling stations at Belarus presidential election open at 8:00
Armenia violates ceasefire with Azerbaijan 28 times
Export of steel from Turkey abroad in 1H2020 shrinks
Geostat reveals inflation rates in Georgia in June 2020
South Africa's COVID-19 death toll exceeds 10,000
EU Ambassador: Uzbekistan is one of key countries in Europe-Asia Connectivity Strategy
New COVID-19 cases detected in Kazakhstan in past day
Esper: U.S. will cut troop levels in Afghanistan to 'less than 5,000'
Law enforcers regain control of Beirut’s center, ministries captured by protesters
Chinese mainland reports 23 new confirmed COVID-19 cases
Ukraine president says Kyiv staying out of U.S. internal politics, elections
U.S. sets record as coronavirus cases top 5 million
Twitter, TikTok held preliminary talks about potential combination: WSJ
Brazil surpasses 100,000 deaths, 3 mln cases of COVID-19
Trump signs orders to extend certain COVID-19 relief after Congress fails to reach deal
Turkey reports 1,172 new COVID-19 cases, 239,622 in total
Czech apartment fire kills 11, including three children
Moscow's death toll from confirmed coronavirus cases rises by 12 to 4,572 - crisis center
WHO reports one-day surge in coronavirus cases by over 284,000
Plane crashes in Portuguese-Spanish joint fire operation, one killed
Lebanese PM says only way out of crisis is holding early elections: statement
Over 230 injured in Beirut protests - Lebanese Red Cross Society
Ireland reports highest number of new COVID-19 cases since early May
Beirut explosion death toll rises to 158, over 6,000 injured: Health ministry
Android goes on being most popular operation system in Azerbaijan
Turkey records decline in carpet export in 1H2020
Official: Epidemiological situation in Georgia is manageable and under control
Iranian mayors express readiness to help Beirut after blast
Kazakhstan sends military medical team to Lebanon after Beirut blast
Protesters storm Lebanon's Foreign Ministry
Oil spill threatens ecological disaster as Mauritius declares emergency
Belarus reports 124 new COVID-19 cases, total reaches 68,738
Azerbaijani president congratulates president of Singapore
Azerbaijani MFA: Armenia is making attempts to illegally resettle Armenians from Middle East to Azerbaijan's Nagorno-Karabakh and adjacent regions
Iran declares amount of funds to be paid for construction of Ardabil-Mianeh railway
Iran Red Crescent delivers 15 tons of food to Lebanon Red Cross
Turkey to allocate Port of Mersin for Beirut's use, top Turkish official says
PM Gakharia: Georgia ready for NATO membership
Libya reports 200 new COVID-19 cases
Weekly review of Azerbaijani currency market (Aug. 3-7)
Iran announces balance of bank loans
Total COVID-19 recoveries number exceeds 30,000 in Azerbaijan
Uzbekistan's capital to establish co-op with Japan's Nagoya city
Georgia becomes net importer of apples in 2019/2020 season
Iran's parliament to review stock exchange, foreign currency rates
Ferrero to purchase hazelnuts from Georgian Hazelnut Producers Association
All news