Finance

Finance

Trade turnover between Azerbaijan and Germany increases by 3 times

11 June 2012 10:33 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. German companies are interested in direct investing in Azerbaijan, deputy minister of economic development Niyazi Safarov said, APA reports.

To him, at present, Azerbaijan has established trade relations with 150 countries and Germany is one of the important partners of Azerbaijan: â€˜Trade economic ties between the two countries develop year-by-year. According to Azerbaijanâ€™s statistics, trade turnover between the sides soared 2 times compared to 2010, and 3 times compared to last yearâ€™.

â€˜Azerbaijan and Germany have established a working group on cooperation in trade and investment sphere. The first meeting of this group was held in Berlin last year, the second in Baku in November of this year. At present, more than 100 German companies operate in Azerbaijan. They mainly engaged in infrastructure. At the same time, activeness of Azerbaijani companies increases in Germanyâ€™, added Safarov.