Baku, Azerbaijan, May 17
By Sara Israfilbayova - Trend:
So far, the US has invested $13.6 billion in the Azerbaijani economy, Azerbaijani Finance Minister Samir Sharifov said, Trend reports.
Sharifov made the remarks at the meeting of the US-Azerbaijan Economic Partnership Commission in Baku on May 17.
The minister stressed that Azerbaijan invested $8.2 billion in the US economy. "The issues covering such spheres as trade, investment, agriculture, tourism, transit, logistics and intellectual property will be mainly discussed at today’s meeting," Sharifov added.
"After the seven-year-break, the activity of the intergovernmental commission has been restored," he noted.
“The trade turnover between the countries reached 860 million manats in 2018,” Sharifov said, adding that 530 million manats of this amount accounted for the export of Azerbaijani goods to the US.
“The level of cooperation between the countries does not correspond to the existing potential,” he added.
According to the Minister, there are a number of factors hindering the development of economic relations between the countries. “One of them is the Section 907, which restricts trade relations between the two US and Azerbaijan,” he said. "We hope that the US government will work to abolish this section."
“Another factor hindering the development of relations between the countries is the occupation of Azerbaijani lands by Armenia for about 30 years,” he added.
(1.7 AZN = 1 USD on May 17)