On September 2nd Azerbaijan`s Minister of Economy and Industry Shahin Mustafayev met with a German delegation comprising Hanns-Eberhard Schleyer, chairman of the Board of the German-Azerbaijani Forum, former Secretary General of the German Confederation of Skilled Crafts, former State Secretary, Karin Strenz, MP, chair of the Parliamentary Friendship Group for Relations with the States of the Southern Caucasus, Raynold Robben, chair of the German-Israeli Society, Michael-Andreas Butz, Secretary General of the German-Azerbaijani Forum, former Secretary of State, and Rainer Lindner, CEO of the Eastern Committee of German Economy.
Mustafayev underlined the Azerbaijan-Germany relations are based on fruitful cooperation. He underscored the importance of high-level official visits, meetings held for developing ties between the two countries. The Minister noted that Azerbaijan-Germany economic relations are successfully developing, adding the countries signed 67 documents in an economic field.
Mustafayev noted that 177 German investment companies are operating in the service, trade, construction, industry, banking, insurance and agriculture. Germany`s fixed capital investments made up USD 500 million between 2002-2013. The trade turnover between Azerbaijan and Germany increased 25% in 2013 and 15% in January-July of this year. Germany is fourth among Azerbaijan`s trade partners.
The Minister pointed out that the Germany-Azerbaijan Foreign Chamber of Commerce established in 2012 is the second one in the CIS area, adding this organization plays an important role in expanding economic cooperation and trade between the two nations.
According to him, intergovernmental talks on financial and technical cooperation between the Republic of Azerbaijan and Germany continued since 1997, establishment of the high-level working group for trade and investments in 2011, participation of entrepreneurs and young managers in professional trainings in Germany.
Some 200 entrepreneurs and young managers attended trainings in various cities of Germany in 2009-2014. The experience of vocational education of Germany will be utilized at the Sumgait Chemical Industrial Park.
The Minister noted that both coutnries have enormous potential for expanding economic ties, saying the effective use of existing opportunities will be helpful to take the Azerbaijan-Germany cooperation forward.
Mustafayev briefed the German delegation on the Azerbaijan`s economy, investment and export opportunities, regional projects implemented, diversification of economy, non-oil sector development.
Schleyer said the German delegation had met with President of Azerbaijan Ilham Aliyev. He pointed out that the Germany-Azerbaijan Forum had conducted various events so far to develop bilateral ties.
The meeting was followed by presentation of Azerbaijan`s business and investment opportunities conducted by the Azerbaijan Export and Investment Promotion Foundation (AZPROMO), and that of Sumgait Chemical Industrial Park LLC conducted by the company itself.