China and Azerbaijan can create JV in third countries (Exclusive)

Business Materials 13 August 2018 12:36 (UTC +04:00)

Baku, Azerbaijan, Aug. 13

Ilkin Shafiyev - Trend:

China supports the possibility of creating joint ventures (JV) with Azerbaijan in third countries, Ambassador of the PRC to Azerbaijan Wei Jinghua, said in an interview with Trend.

In 2015, Chinese government initiated a new model of "international cooperation in the market of third countries" that effectively connects China's manufacturing capacity, advanced technologies of developed countries and the needs of developing countries. This cooperation model has received positive responses in the international arena over the past 2 years," Jinghua said.

Business cooperation between China and Azerbaijan is mutually beneficial and has great potential. Despite the slowdown in the global economy, the volume of trade between Azerbaijan and China reached a record level in 2017.

"In the first half of the year, China became one of the 7 major trade partners of Azerbaijan. Cooperation between the countries particularly in areas, such as transport, communications, agriculture, construction materials production, engineering and light industry is expanding," the ambassador said.

At present more than 20 Chinese enterprises are performing entrepreneurial activities in oil and gas, construction, aviation, logistics and other fields in Azerbaijan.

According to the data of the State Customs Committee of Azerbaijan, commodity turnover with China for 1H18 amounted to $616,402 million.


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