Baku, Azerbaijan, Feb. 28
By Anvar Mammadov – Trend:
Azerbaijan is interested in expanding trade turnover and mutual investments with South African Republic, head of Azerbaijan Export and Investment Promotion Foundation (AZPROMO) Rufat Mammadov said.
He made the remarks at an event dedicated to the presentation of investment opportunities of South African Republic in Baku Feb. 28.
Mammadov said that there is already experience of cooperation in the economic sphere between the two countries.
“Five companies of the South African Republic, which operate in various spheres of economy, have been registered in Azerbaijan. Meanwhile, we are interested in further development and expansion of trade turnover and mutual investments. Private business should have a big role in our cooperation,” he noted.
Mammadov spoke about the reforms in the economy of Azerbaijan and the diversification of the country’s economy.
AZPROMO head added that favorable business environment has been created in Azerbaijan.
“We do not put any restrictions on foreign companies and create favorable conditions for them. In fact, today Azerbaijan provides equal conditions for all market participants. We have an open economy, favorable for investments,” Mammadov said.
He also spoke about transport projects implemented by Azerbaijan jointly with its partners, priority directions of economic development and invited companies of the South African Republic to invest in agriculture, tourism, construction, pharmaceuticals and other priority areas.
As the ambassador of South African Republic in Turkey and Azerbaijan Pule Isaac Malefane noted, the existing economic relations between Azerbaijan and South African Republic do not correspond to the available potential.
“Our diplomatic relations are at a very good level. This is facilitated by the presence of the Azerbaijani embassy in South African Republic, but our economic ties could be better. The presence of strong political ties, in my opinion, should serve as a basis for the development of economic relations,” said Malefane.
According to the State Customs Committee of Azerbaijan, the country’s trade turnover with the South African Republic amounted to $7.16 million in 2017, and its major part accounted for the import of goods of the South African Republic. The trade turnover rose by 9.8 percent in 2017 as compared to 2016.
