Germany ready to further support diversification of Azerbaijan’s economy

  10 April 2018    Read: 771
Germany ready to further support diversification of Azerbaijan’s economy

Germany is ready to further support measures to diversify Azerbaijan’s economy, Tobias Baumann, director executive of the German-Azerbaijani Chamber of Commerce, told reporters in Baku April 10.

There is decline in trade turnover between Germany and Azerbaijan, he said.

However, Azerbaijan continues large-scale reforms related to economic diversification aimed at creating new industries, he noted.

In this process, Germany provides support to Azerbaijan by supplying high-quality equipment, in particular for the food, polymer and textile industries, he added.

The trade turnover between Azerbaijan and Germany amounted to about $314 million for the first two months of 2018, according to Azerbaijan’s State Customs Committee.


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