TODAY.AZ / Business

Azerbaijan ensures uninterrupted supply of products to Georgia

06 November 2014 [14:59] - TODAY.AZ

/AzerNews/

By Amina Nazarli

The Azerbaijan-Georgia business forum was held in Baku as part of the visit of Minister of Economy and Finance of Georgia's Adjara David Baladze to Baku on November 5.

The forum, co-organized by Azerbaijan Economic Development Ministry and Azerbaijan Fund Export and Investment Promotion (AZPROMO) was also attended by Georgian companies active in construction and tourism spheres.

Speaking at the event, Head of AZPROMO Rufat Mammadov noted that Azerbaijan is interested in establishing logistics centers in Georgia and ensuring uninterrupted supplies of products to the country.

He said for the past years both in Azerbaijan and Georgia a great deal of work has been done for establishment mutual trade and economic relations.

"We have successfully developing our trade relations. Thereby, we see an increasing rate of turnover. The trade turnover between the two sides is diversified. We supply to Georgia a wide range of products and vice versa," Mammadov said.

As Azerbaijani State Customs Committee statistics say the trade turnover between Azerbaijan and Georgia was $879.2 million (10.5 percent of the total foreign trade of Georgia) for January-September 2014. Wherein the amount of goods imported from Georgia hits $425.79 million, the amount of goods imported from Azerbaijan to Georgia stands at $453.39 million.

Mammadov also added that Georgian companies are actively operating in Azerbaijani market, where the number of companies with Georgian capital reaches 194. They usually provide the services in the sphere of transport, agriculture and energy.

Moreover, he said that more than 300 Azerbaijani companies are established in Georgia.

"For the last three years, the volume of direct investments in Georgia exceeded $400 million which provided the population with more than 7,700 jobs," the minister said.

As Mammadov stressed, the Azerbaijani companies are interested in expanding cooperation with Georgia further. In connection with this cooperation, the national delegation is going to visit Batumi for talks over some specific projects.

Furthermore, Azerbaijan takes an interest in creation joint enterprises in the field of agriculture, organizing joint tourist routes, exchanging experience in the field of tourism, exporting construction materials and furniture to Georgia, supplying equipment, chemical products and introduction of IT-solutions in various fields.

Noting that in Azerbaijan there are favorable conditions for business, the head of AZPROMO cited that more than 80 percent of the country's economy are run by the private sector.

"Since 1995 to 2014 Azerbaijan could replenish about $190 billion to the national economy. More than 60 percent of this amount has been directed to the development of non-oil sector," Mammadov said.

By the end of 2013, the volume of mutual direct investments between Azerbaijan and Georgia were $1.09 billion.

The Center for Integration Studies of the Eurasian Development Bank index of mutual direct investment says that the two countries have the most intensive investment cooperation in the post-Soviet area.

URL: http://www.today.az/news/business/137393.html

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