Azernews.Az

By Sara Israfilbayova

The U.S. companies may take advantage of the investment opportunities created in Azerbaijan and invest in industrial zones created in the country, especially in the Mingachevir Industrial Park.

Azerbaijani Economy Minister Shahin Mustafayev made the remarks at the meeting with U.S. Ambassador to Azerbaijan Robert Cekuta in Baku.

The minister went on to say that the relations between Azerbaijan and the U.S. are actively developing in all spheres, in particular, in economy.

Stressing the cooperation with the American Chamber of Commerce in Azerbaijan (AmCham) and the U.S.-Azerbaijan Chamber of Commerce (USACC), the minister noted that currently, the visit of the Azerbaijani export mission to the U.S. is being prepared together with AmCham.

Cekuta, in turn, stressed the importance of the Baku-Tbilisi-Kars (BTK) railway and the Baku International Sea Trade Port and expressed U.S. interest in BTK.

Cekuta pointed out that the diversification of the economy and the implementation of reforms have raised Azerbaijan’s international rating.

The U.S. established diplomatic relations with Azerbaijan in 1992, following its independence from the Soviet Union.

Together, the two countries work to promote European energy security, expand trade and investment, and combat terrorism and transnational threats. The U.S. is committed to strengthening democracy and promoting economic diversification in Azerbaijan.

U.S.–Azerbaijani ties in economic sphere developed primarily in the context of Caspian energy resources and their transportation to Western markets. The U.S. companies are actively involved in the development of Caspian hydrocarbons in offshore Azerbaijani oilfields, and the U.S. government actively supported the Baku–Tbilisi–Ceyhan (BTC) pipeline as the primary route of transportation for Caspian oil.

The trade turnover between Azerbaijan and the U.S. amounted to $781.78 million in 2017, according to the Azerbaijani State Customs Committee.

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