French companies in Azerbaijan сontributing to dev't of country's economy

Business Materials 24 January 2020 15:03 (UTC +04:00)
French companies in Azerbaijan сontributing to dev't of country's economy

BAKU, Azerbaijan, Jan. 24

By Eldar Janashvili - Trend:

To date, France has invested about $2.2 billion in Azerbaijan's economy, Executive Director of the Azerbaijani Center for Analysis of Economic Reforms and Communication Vusal Gasimli said.

Gasimli made the remark in Baku at the business meeting of the Azerbaijan-France Chamber of Commerce and Industry, Trend reports on Jan. 24.

Noting that in 2019, 3 percent of exports and 2.1 percent of imports in Azerbaijan's total foreign trade turnover accounted for France, Vusal Gasimli proposed expanding the exports of Azerbaijan's non-oil sector to France with hazelnuts, fruits, vegetables, persimmons, wine and other agricultural products.

It was also mentioned that France, being the country with the third largest economy in Western Europe (after Germany and the UK), has a number of large corporations whose participation in the Azerbaijani economy will help bring new technologies to the country, create new jobs and increase competitiveness and export potential of the national economy.

Currently, more than 30 French-owned companies in industry, agriculture, transport, logistics and services are on 500 largest global companies list of the Fortune magazine. France's Total, AXA, Peugeot, Credit Agricole and Carrefour are included in the first hundred.


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