Baku, Azerbaijan, Sept. 16
As of 2013, the trade turnover between Azerbaijan and Germany increased by 25 percent and hit $2.2 billion. The trade relations between the two countries increased by 15 percent in January-July 2014, Azerbaijani Minister of Economy and Industry Shahin Mustafayev said at a meeting with a delegation of the German Parliament in Baku Sept. 15.
"The trade relations with Germany, which is the main trade partner of Azerbaijan, are being expanded from year to year," Mustafayev said.
Mustafayev added that at present, around 177 companies with German capital are operating in various spheres in Azerbaijan. Azerbaijan closely cooperates and implements joint projects with the German Society for International Cooperation, KfW Development Bank.
Mustafayev informed the German Bundestag delegation about the achievements of Azerbaijan, current large regional infrastructure projects, the Armenian-Azerbaijani Nagorno-Karabakh conflict. He stressed that the conflict is the biggest obstacle in the development of regional integration.
The chairmen of the Bundestag Committees on Economy and Industry Peter Ramsauer and Economic Cooperation Dagmar Wöhrl appreciated the socio-economic development of Azerbaijan. They stressed that there is a great potential for the development of cooperation between the two countries. They expressed their opinion in relation to the directions of expanding the economic ties.
During the meeting they discussed the prospects for the expansion of economic relations between Azerbaijan and Germany. They added that there are broad opportunities for developing the cooperation in the fields of industry, production and processing of agricultural products, tourism, ICT and others.