No political context regarding reduced US investments in Azerbaijan – State Department

No political context regarding reduced US investments in Azerbaijan – State Department

Baku, Azerbaijan, July 23

By Anakhanum Khidayatova - Trend:

The statistics about decrease in the volume of US investments in Azerbaijan has no political context, Richard Hoagland, the US Principal Deputy Assistant Secretary of State told reporters in Baku July 23.

He said the US companies are private and there are no state-controlled companies in this country.

The US companies make investments in economically attractive spheres and large investments were made in the past, according to Hoagland.

He added that the volume of investments will increase as the relations between the US and Azerbaijan improve and conditions for investments get better.

"Diplomacy and international affairs are like personal relations in a family: sometimes everything is smooth and good, sometimes there are problems, " said Hoagland.

What important is both sides come together in good faith and mutual respect and work on these problems, he added.

The trade turnover between Azerbaijan and the US neared $796 million in H1 of 2015, according to Azerbaijan's State Customs Committee. This is while $202.9 million accounted for export of Azerbaijani products to the US.

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Follow the author on Twitter: @Anahanum

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