Azerbaijan, Germany interested in increasing mutual trade turnover

  02 March 2021    Read: 541
Azerbaijan, Germany interested in increasing mutual trade turnover

The ceremony of signing a joint declaration of intent between the Ministry of Economy of Azerbaijan and the Federal Ministry for Economic Affairs and Energy of Germany to continue cooperation in raising the qualification of managers has already become a tradition, Azerbaijani Deputy Minister of Economy Sahib Alakbarov said.

Alakbarov made the remark at the signing ceremony of a joint declaration of intent between the Ministry of Economy of Azerbaijan and the Federal Ministry for Economic Affairs and Energy of Germany on the continuation of cooperation to improve the skills of managers of Azerbaijani companies, Trend reports on March 2.

“Some 451 entrepreneurs and managers from Azerbaijan have taken part in this program since 2009 within this cooperation, which makes a great contribution to the country's economy,” the Azerbaijani deputy minister added.

“The program is currently being carried out online due to the pandemic worldwide,” Alakbarov added. “However, after positive results of vaccination, it will be possible to return to the traditional face-to-face implementation of this program.”

“The strengthening of the economic potential of Azerbaijan and the policy of diversification of the economy, as well as the creation of hundreds of new institutions for the production of products, have recently given positive trends to the expansion of foreign economic relations,” the Azerbaijani deputy minister said.

"The economic and trade relations between Azerbaijan and Germany are dynamically developing,” Alakbarov said. “Our country is the main economic and trade partner of Germany in the South Caucasus."

Azerbaijan's foreign trade turnover with Germany reached $817.6 million in 2020, including export in the amount of $234.1 million and imports in the amount of $583.5 million. This testifies to a big decline. Both countries are interested in carrying out big work to increase mutual trade turnover in the post-pandemic period.

The deputy minister of the economy also stressed the importance of high-level bilateral visits for intensifying and expanding economic ties between the two countries.

“A concept has been developed for the restoration and development of the Azerbaijani territories liberated from the Armenian occupation,” Alakbarov stressed. “Azerbaijan is interested in attracting the German companies in large-scale restoration work within this concept.”

“Azerbaijan is interested in attracting the German investment projects in the priority spheres of activity to achieve the economic growth in the post-pandemic period,” the deputy minister of economy said.

The deputy minister of economy stressed that the cooperation between Azerbaijan and Germany to improve the qualification of managers will also give impetus to the dynamic development of bilateral economic relations.


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