German Companies Interested in Cooperation with Azerbaijan

To expand the relations between Azerbaijan and Germany in the trade and economic sphere and the field of investments there is legal base and favorable business environment. There is a potential for a deepening of relations in the field of innovation, transport, logistics and others.

This was the leitmotif of the 22 October German-Azerbaijani Economic Forum organized by the joint Chamber of Foreign Trade.

Germany was represented by Rhineland-Palatinate.

Opening the meeting, the head of the bilateral Chamber of Commerce Florian Shroeder said that currently there is a possibility for the supply of German know-how and innovation, training of specialists for Azerbaijan.

The head of Azpromo (Azerbaijan Fund for Export and Investment Promotion) Rufat Mammadov noted that the development of economic relations established a solid legal base (90 agreements).

In Azerbaijan, there are 183 companies with German investment. More and more German companies cooperate, not having offices in Baku.

Last year, trade between the two countries amounted to $ 2.6 billion, and within 8 months of the year - 1.5 billion USD.

Germany invested 475 million USD in Azerbaijan. It is noteworthy that 345 million USD fall on the non-oil sector. Mammadov urged Azerbaijani businessmen to effectively use the opportunities for cooperation with German partners.

The GDP of Rhineland-Palatinate with an area of 20 thousand sq. km and a population of 4 million is 130 billion USD (more than 2 times the GDP of Azerbaijan), the Minister of Economy of Germany's federal subject Joe Weingarten said.

In the region there are about 200 thousand SMEs, which constitutes the basis of its economy, he said. In his view, between these companies and Azerbaijani partners effective economic ties can be established.

Permanent Representative of the German Embassy Eugen Schonfeld said that in the last quarter it is the sixth German delegation visiting Azerbaijan.

"German companies are reliable partners in long-term cooperation. They are interested in working on the Azerbaijani market," said the German diplomat.

Zaur Gardashev from Azpromo made a presentation about the possibilities of the Azerbaijani economy, focusing on the non-oil sectors - agriculture, tourism, telecommunications, industrial parks and others.

Representatives of the companies Faberkabel (production and sale of cables), Rudetrans (welding equipment manufacture), Obel (logistics), Hochüald (dairy products), Rhodius (production of mineral water and juices) stated that they would be happy to find a partner in Azerbaijan.

The forum held bilateral meetings of German businessmen with their Azerbaijani counterparts. -06D-