Spheres of German business expansion in Azerbaijan defined
German-Azeri Society for Economic Cooperation (DAWF) is ready to help German businessmen find partners in Azerbaijan, Trend reports quoting Florian Sredder, representative o DAWFs board, speaking at todays Azeri-German business-forum.
Inviting German companies to Azerbaijan, he said the most stable economic situation has been registered namely in Azerbaijan within the last 8 years and this country is matched with the worlds highest GDP growth rate (26 .4%) in 2005.
He stated some spheres the German companies may participate in. Due to construction of high buildings, German businessmen may take part in this business. Second sphere is furniture industry that also progresses rapidly. Promising spheres are vegetables and fruits processing, light industry, import of agricultural technique, oil industry and ICT.
Technical Cooperation Society GTZ is already taking part in textile industry of Azerbaijan and is aiming at its future export to the CSI and the EU.
In 2005, German companies invested some E 160mln in Azerbaijan, mainly in non-oil sector. The largest investment is construction of Sumgayit heat power plant with rating 500 РњW by Siemens, financed by Bayerische Landesbank at E 300mln.