Azerbaijan and Germany are strong economic partners, former German Chancellor Gerhard Schroeder said while delivering a report at a conference in the Azerbaijani- German Chamber of Commerce on March 13.
"Germany is one of Azerbaijan's most important partners in Western Europe," he added. "At the same time, both countries are strong economic partners in the Caucasus region."
Schroeder said the annual trade turnover between Azerbaijan and Germany exceeds two billion euros.
"Our potential allows the strengthening of economic cooperation in the future," he said. "I think the establishment of the Chamber was a progressive action. Many German companies are operating actively in Azerbaijan."
Speaking about the current economic situation in Europe, Schroeder said the main problem is the currency crisis.
"The currency crisis in Europe is called the political crisis," he said. "Today the European Union must decide whether it is ready for fiscal reforms."
"The unemployment level has fallen 40 percent in Germany for the past few years, while exports increased by 50 percent. This happened amid the crisis."
"Germany is the most competitive country in Europe," he added.