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US to increase investments in Azerbaijan

Business Materials 20 November 2015 23:16 (UTC +04:00)
US intends to increase the volume of investments in Azerbaijan.
US to increase investments in Azerbaijan

Baku, Azerbaijan, Nov. 20

By Maksim Tsurkov - Trend:

US intends to increase the volume of investments in Azerbaijan, deputy assistant of the US Secretary of Commerce Michael Lally told reporters Nov.19 at the event held in Baku on the 20th anniversary of US-Azerbaijan Chamber of Commerce (USACC) and the visit of the US trade mission in Baku.

He said that, the United States was one of the largest investors in Azerbaijan from the proclamation of independence of the country.

"Earlier we invested only in the oil and gas sector, now we are planning to focus on non-oil sectors: logistics, pharmaceuticals, information technology and so on," - Lally said.

To date, the United States invested in Azerbaijan's economy 10 billion dollars. Currently there are 235 American companies in Azerbaijan.

During the first 9 months of this year the trade turnover between the countries increased on five percent.

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