Trade turnover between Azerbaijan, Czech Republic growing rapidly (UPDATE)
Details added (first version posted on 11:53)
Baku, Azerbaijan, Dec. 19
By Ali Mustafayev - Trend:
The trade turnover between Azerbaijan and the Czech Republic is growing rapidly, said Jan Jindrich, secretary for economic and commercial affairs at the Embassy of the Czech Republic in Azerbaijan.
He made the remarks in Baku Dec. 19 at a press conference dedicated to the results of the Azerbaijani-Czech relations in 2017, Trend's correspondent reported from the event.
The trade turnover between the two countries increased by more than 100 percent in January-October 2017 as compared to the same period of the previous year, noted Jindrich.
The two countries’ trade turnover reached $924 million in ten months of 2017, $846 million of which accounted for the export of Azerbaijani products to the Czech Republic, and the import of Czech products by Azerbaijan totaled $78 million, said the secretary.
Jindrich also noted that according to the Statistics Committee of the Czech Republic, the country is the seventh biggest partner of Azerbaijan in terms of exports and 15th – in terms of imports.
The main product exported from Azerbaijan to the Czech Republic is crude oil, the volume of which totals 2-2.5 million tons per year, and makes up a third of the oil consumed in the Czech Republic, he added.
Jindrich emphasized that supplies from Azerbaijan have a strong impact on the energy security of the Czech Republic, and at the same time, Azerbaijan is an attractive country for Czech investors.
Over the past ten years, Czech banks, both public and private, invested more than $2 billion in the Azerbaijani economy, which includes the Czech Republic in the list of the top 10 investors in the economy of Azerbaijan, added the secretary.