Trade turnover between Azerbaijan and Germany increases by 70%

Germany companies invested more than 200 mln euro to Azerbaijan so far, Head of administration of Azerbaijan’s Ministry of Economic Development Samir Valiyev said. To him, at present, German companies function in energy, construction, agricultural, service and financial spheres of Azerbaijan.

372 mln euro-loans via German government and KfW bank of this country has been allocated in fulfillment of different projects in Azerbaijan. These loans were allocated especially in infrastructure projects, as well as improvement of water supply, power engineering and etc.

Valiyev said in May of this year, during visit of Ministry’s delegation to Germany, a memorandum was signed with Federal Ministry of Economics and Technology of Germany on establishment of working group on trade and investment. Current issues, ways of solution of the existing problems and new cooperation directions will be discussed during the meetings of this working group.

Today, 20 representatives from 16 German companies attended the bilateral business forum, in Baku. These companies operate on the spheres of machinery, industry, agriculture, construction, energy and consulting.

Meetings were held among the businessmen of both countries after forum. Tomorrow, round table is planned to hold with the participation of German entrepreneurs. Besides, visits are planned to pay to several local industrial enterprises and Sumgayit.

It was noted at the forum that, the trade turnover between two countries increases year-by-year. So that, the trade turnover made over $ 600 mln in January-May, 2011, up 68% compared to a year earlier. According to S. Valiyev, this does not reflect the real economic potential of the country. These events support the trade turnover to be increased.


/APA/