Baku, Azerbaijan, Oct. 16
By Anvar Mammadov - Trend:
The US companies earned $17 billion from investments made in Azerbaijan, which once again testifies that Azerbaijan retains its investment attractiveness, Azerbaijani Deputy Minister of Economy Sahil Babayev said.
Babayev made the remarks at the Azerbaijan-US business forum in Baku Oct. 16. The business forum is supported by the Azerbaijani Ministry of Economy.
"To date, the US investments made in the Azerbaijani economy amount to $12.7 billion, of which $1 billion was invested in the non-oil sector of the country’s economy,” he added. “Azerbaijan's investments in the US amounting to $3 billion, of which mainly investments of Azerbaijan’s state oil fund SOFAZ, are also increasing.”
The trade turnover between Azerbaijan and the US has been growing this year.
"The trade turnover between Azerbaijan and the US amounted to $416 million in January-August 2017, which is by 7 percent more than in the same period of 2016,” he said. “Of course, this figure does not fully correspond to our potential opportunities and the trade turnover can grow."
The representatives of 17 US companies specializing in construction and building materials, ICT, finance, agricultural technologies, payment and security systems, car rental, logistics, dairy products and other spheres are participating in the event.