Azernews.Az

By Leman Mammadova

A presentation on the investment climate and economy of Azerbaijan has been held within the 6th China International Fair for Trade in Services (CIFTIS) at the China National Convention Center in Beijing.

Local businessmen, representatives of business associations, and employees of tourism companies attended the event organized by the Azerbaijani Ministry of Economy and Azerbaijani Embassy in China as well as the Trade Representation of Azerbaijan in Beijing and the CIFTIS Organizing Committee.

The presentation aimed to inform local entrepreneurs about Azerbaijan, inform Chinese investors about the advantages of the favorable business environment in the country, as well as to encourage Chinese tourists to travel to Azerbaijan.

Speaking about the role of Azerbaijan in the Belt and Road initiative, Azerbaijan’s Trade Representative in China, Teymur Nadiroglu, said that Azerbaijan is one of the first countries that supported this initiative and contributes to its implementation with the country’s economic and transport capabilities.

He also noted that Azerbaijan transports cargoes between China and Europe more quickly through the Trans-Caspian International Transport Corridor, including the Baku-Tbilisi-Kars railway.

Nadiroglu stressed that Azerbaijan aims not only to become a transit country, but also to be a producer and exporter state by attracting more foreign investors, including Chinese, to the country's economy.

It was noted that the trade turnover between Azerbaijan and China increased by about 2 times and amounted to $1.3 billion last year. In addition, 10 documents worth $821 million were signed between Azerbaijani and Chinese companies within the framework of the 2nd Belt and Road international forum held in Beijing.

Azerbaijan's trade and wine houses opened in Shanghai, Urumqi and Liuzhou cities to ensure export of Made in Azerbaijan products to China. Also, Azerbaijani export missions to several Chinese cities were organized. Azerbaijan is actively participating in exhibitions in this country, including the First China International Import Expo. All these are important facts for the development of bilateral economic and trade relations.

Natig Khalilov, an employee of the trade representation, who made the presentation "Azerbaijan's investment climate and key economic indicators", spoke about the measures taken to develop the non-oil sector in the country, the large-scale infrastructure projects, as well as the favorable conditions created for investors in various directions of the economy, including industry, agriculture, information and communication technologies, as well as the privileged conditions in industrial parks and investment areas for Chinese businessmen.

Within the framework of the event, a presentation on tourism potential of Azerbaijan featured the development of this sector in the country and the activities of tourism centers meeting the modern requirements in Baku and regions.

It was stated that the direct air communication between Baku, Beijing and Urumqi, introduction of a simplified visa regime for Chinese citizens, as well as the ASAN Visa system expanded opportunities for Chinese tourists to visit Azerbaijan.

Rinat Azizov, head of the Beijing office of the Azerbaijan Airlines, informed about the national airline and said that the company's total route network consists of 40 destinations in 25 countries. AZAL, headquartered at Heydar Aliyev International Airport, which was rated "5 star" by "Skytrax" auditing company, currently performs regular Baku-Beijing-Baku direct flights. In the future, Baku plans to open flights to other Chinese cities, he noted.

It is noteworthy that Azerbaijan participated for the first time with its national pavilion at CIFTIS 2019, which was attended by 137 countries representatives.

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Leman Mammadova is AzerNews’ staff journalist, follow her on Twitter: @leman_888

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