BAKU, Azerbaijan, Mar. 26
By Nargiz Sadikhova - Trend:
Azerbaijan's advanced port infrastructure and hinterland development could be fields of common cooperation with Germany, Stefan Kägebein, Regional Director Eastern Europe at the German Eastern Business Association told Trend.
Talking Azerbaijan-Germany investment cooperation, Kägebein said that the biggest European project with Azerbaijan is the Transanatolian Pipeline which started its commercial operation in 2021.
He noted however that Azerbaijan offers other industries great potential as well.
“Logistics and infrastructure development is a good example, where German companies could support the development of the country. Especially in the field of logistics, German companies are operating there already. Azerbaijan is an important country on the southern route from China to Western Europe. An advanced port infrastructure and hinterland development could be fields of common cooperation,” he said.
Talking the COVID-19 pandemic affecting the joint projects implementation, Kägebein said that in 2020, a general contraction could be observed.
“Companies often focused on their core business. In addition, expansion or investment plans where reviewed or postponed. Expansion and investments will still take place in the future, dependent on the recovery of the economy,” he said.
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