Azerbaijan eyes to increase exports of its products to China till late 2018

Baku, Azerbaijan, Aug. 15

By Matanat Nasibova – Trend:

Azerbaijan intends to increase exports of its products to China till late 2018, trade representative of Azerbaijan in China Teymur Nadiroglu told Trend.

“In 2017 the trade turnover between Azerbaijan and China amounted to $1.298 million, while this figure was 20 percent more than in 2016,” he said.

"Exports from Azerbaijan to China increased by 63.75 percent and amounted to $443, 800,000, imports from China to Azerbaijan increased by 21.38 percent and amounted to $854,500,000 in 2017," Nadiroglu added.

“The volume of imports from China to Azerbaijan was much more than the export from Azerbaijan to China,” he said.

"In the future, this should be an incentive for Azerbaijani exporters to increase exports to China mainly in the non-oil sector and actively promote domestic products to the markets of the CIS countries, Europe and China,” Nadiroglu stressed.

“I think for this purpose there is a certain developed strategy, state support and in particular, a great desire of our producers,” he said. “About five years ago no one could even think that our national products will be exported to China. Today as an exporting country Azerbaijan is of great interest, which testifies to the thoughtful and competent economic policy of our country."

Azerbaijan mainly exported fuel, plastic and plastic products, chemical products, etc. to China in 2017. Azerbaijan imported electric equipment, vehicles and spare parts, clothing, ceramic products, household items, etc. from China in 2017.

In 2017, China became the fourth biggest trading partner of Azerbaijan. Besides China, among the biggest trading partners of Azerbaijan are Russia, Italy, Turkey, Israel and Germany.

According to the Azerbaijani State Customs Committee, the trade turnover between Azerbaijan and China in January-July 2018 amounted to $616.4 million, of which $30 million accounted for the export of Azerbaijani products to China.

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