In Berlin, Trade and Economic Relations with Azerbaijan to Be Discussed

In Berlin, from 17 to 18 July will be held the third meeting of the Azerbaijan-German High Level Working Group on Trade and Investment.

The parties will discuss the level of trade and economic relations between the two countries, as well as the measures taken during the period after the second meeting in November last year in Baku.

The press service of the Ministry of Economic Development told Turan, Azerbaijan will be represented by a delegation led by Chief of Staff of the Office of the Ministry, Samir Veliyev.

During the second meeting of the Working Group Deputy Minister of Economic Development Niyazi Safarov highly evaluated the relations between the two countries on an economic platform. "In 2011, the Azerbaijani-German turnover increased by 2.2 times. German investments in Azerbaijan exceeded $ 450 million in the country has 105 companies with German capital. Implemented 10 joint investment projects worth 460 million euros," Safarov said.

According to the State Customs Committee, in 2012 the trade turnover between Azerbaijan and Germany was $ 1 744.5 million, a 27.5% increase over the previous year. The exports from Azerbaijan increased at 84.3%, while the imports from Germany fell by 7.7%. For five months of this year commodities in the amount of $ 780 million (+50%) were exported to Germany, while imported in the opposite direction were those totaling $ 286.4 million (-2.5%). - 08D -