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Economy minister talks on Chinese investments in Azerbaijan's economy (UPDATE)

Business Materials 13 February 2018 18:11 (UTC +04:00)

Details added (16:19)

Baku, Azerbaijan, Feb. 13

By Maksim Tsurkov - Trend:

To date, China has invested over $770 million in the Azerbaijani economy, Economy Minister Shahin Mustafayev said at a press conference on the Azerbaijani-Chinese economic relations on Feb.13.

The minister noted that bulk of this investment was made in the oil industry.

"We expect to increase investments in the non-oil sector, and we are working in this direction. It is worth noting the cooperation of the parties on the SOCAR GPC project, a relevant memorandum has been signed. Azerbaijan attaches great importance to this project and is interested in the participation of Chinese companies. Furthermore, a memorandum was signed between AS Group and China CAMC Engineering Co, which will attract additional investment," Mustafayev said.

The minister added that China is also interested in attracting Azerbaijani investments.

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