Today, the Minister of Economy Shahin Mustafayev received the delegation of Chinese businessmen headed by Board member of the petrochemical company CNPC Van Shihong.
The Minister said the bilateral trade between the countries grew by 56% by October 1, which is confirmed by the data of the State Customs Committee (from January to October, the total figure was $ 641.39 million, $ 495.58 of which occurred in imports).
Mustafayev said there is the possibility of increasing trade and economic potential, especially in the field of investment, energy, transport and transit transportation.
CNPC has signed a memorandum of understanding with SOCAR on the establishment of a chemical and oil refining complex in Azerbaijan.
Recall, on import positions China occupies the third place in the trade turnover with Azerbaijan. In general, the country is in fifth place. --17D-
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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