Azerbaijan will direct its financial resources to the implementation of the “One Belt, One Road” initiative

Azerbaijan is one of the first countries to support China's "One Belt, One Road" initiative, and will direct its financial resources to its implementation.

This was stated by the Deputy Prime Minister, Co-Chairman of the Azerbaijan-China Intergovernmental Commission on Trade and Economic Cooperation Mr. Shahin Mustafayev at the "Global Trade and International Logistics" Forum, held as part of the 2nd China International Import Expo in Shanghai.

Mr. Shahin Mustafayev said that during the state visit of President Mr. Ilham Aliyev to China in 2015, the Memorandum of Understanding on joint promotion of the establishment of the Silk Road Economic Belt was signed.  The participation in the international cooperation forum is an indication of our country's support for this initiative, as well as demonstrating that Azerbaijan attaches great importance to the development of cooperation within the framework of this strategy.

Deputy Prime Minister said the intensification of trade and economic relations in Eurasia was the reason for the increase in international shipping, and that new and efficient routes were needed.  He said the Trans-Caspian International Transport Corridor, including the Baku-Tbilisi-Kars railway, is an attractive way for shorter and more reliable shipping between China and Europe.  This corridor, which has great geographical and economic advantages, is of great importance in terms of the implementation of "One Belt, One Road."  It has already begun to transport cargoes from China to Europe via this road.

Mustafayev informed about the transport and logistics infrastructure that Azerbaijan has established over the last years and said that there are 6 international airports in the country, the largest cargo aircraft fleet and the largest port in the Caspian Sea.  An important part of the transport infrastructure is the new Baku International Sea Trade Port, the largest port in the Caspian Sea.

It was noted that in the Global Competitiveness Report Azerbaijan ranked 31st in terms of infrastructure, 11th in rail efficiency, 12th in air efficiency, and 25th in seaport efficiency.

Speaking at the event, Georgian Minister of Economy and Sustainable Development Natia Turnava spoke about regional projects, especially transport projects, thanks to the cooperation of her country with Azerbaijan and Turkey.

During the visit, Deputy Prime Minister Shahin Mustafayev, Vice-Governor of China's Sheng Province, Su Daton, Secretary General of the Shanghai Cooperation Organization Vladimir Norov, Iran's Minister of Industry, Mining and Trade Reza Rahmani, as well as executives from China National Electrical Engineering Co. Ltd. (CNEEC)  He also met.  Issues of cooperation were discussed at the meetings.

Documents were signed between various agencies and companies of Azerbaijan and China within the International Import Exhibition.  These include the Memorandum of Understanding between the Export Promotion Fund of Azerbaijan (AZPROMO) and the Trade Development Bureau of the Ministry of Commerce of the PRC and the Shanghai Center for Foreign Investments, the cooperation agreement on opening of the Azerbaijan Trade House in Vainan,  purchase and distribution agreements.

Members of our delegation attending the Second China International Import Exhibition visited the Azerbaijani pavilions operating at the exhibition and talked with representatives of our companies.

It should be noted that this year Azerbaijan is represented by two national pavilions in both countries and business sections of China International Import Exhibition.  The 136-square-foot Azerbaijan pavilion in the country section presents materials and publications on the economic development of our country, the favorable business and investment climate, the transportation and transit opportunities, the tourism potential. In addition, visitors have the opportunity to watch videos related to Azerbaijan on monitors.

The 300-square-foot pavilion in the Azerbaijani pavilion features 26 companies that produce competitive and export-oriented products, including wines and spirits, confectionery, fruit juices and dried fruits, mineral water, canned goods under the Made in Azerbaijan brand.  presents to local importers.  Azerbaijani companies have held talks and reached preliminary agreements on export of their products to China.

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