Azerbaijan launches tractor production in partnership with Chinese company

Azerbaijan's State Tax Service under the Ministry of Economy has registered a new company, Dongfeng-Improtex AZ Agro, Report informs.

According to the ministry, the company is legally registered at the same address as Improtex in Baku's Garadagh district, Lokbatan settlement, Salyan highway, 15th kilometer. The firm has an authorized capital of $1 million, and its legal representative is Chinese citizen Wang Weijun.

The establishment of the company follows a memorandum of understanding signed between Improtex and Changzhou Dongfeng Agricultural Machinery during President Ilham Aliyev's state visit to China in April last year.

The new venture signals the launch of joint tractor production in Azerbaijan in cooperation with a Chinese partner.