China ready to create favorable conditions for cooperation with Azerbaijani enterprises

Beijing, together with Baku, is fully prepared to activate the intergovernmental committee mechanism on economic and trade cooperation between the two countries and create more favorable conditions for interaction between Azerbaijani and Chinese enterprises, China's Ambassador to Baku, Lu Mei, said at the Azerbaijan-China Economic and Trade Cooperation Conference held in Baku.

Report quotes her as saying since the establishment of diplomatic relations between the two countries in 1992, bilateral relations have developed steadily and robustly:

"Economic and trade cooperation between China and Azerbaijan demonstrates positive dynamics. Firstly, bilateral trade turnover continues to grow: China has become Azerbaijan’s fourth-largest trading partner and the second-largest source of imports. Secondly, investment is increasing. Chinese investments in Azerbaijan exceed $900 million, while Azerbaijani investments in China amount to about $300 million," said Lu Mei.

Furthermore, she noted that the scope of cooperation between the two countries is constantly expanding. "At the same time, we see that there are still many opportunities to strengthen the current economic, trade, and investment cooperation in the region," she emphasized.

The diplomat added that Guangdong Province has strong economic power, rich industrial resources, and a large market: "Today, the provincial delegation and entrepreneurs are actively studying Azerbaijan's development strategy and investment needs. Market opportunities are being explored."