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Trade turnover between Azerbaijan and the U.S. is expected to reach $5 billion this year

30 October 2008 15:43 (UTC +04:00)

Baku. Nijat Mustafayev - APA-Economics. Azerbaijanâ€™s Acting Minister of Economic Development Heydar Babayev received a U.S. delegation led to the country by John J. Sullivan, the Deputy Secretary of the United States Department of Commerce.
John Sullivan said at the meeting that Azerbaijanâ€™s continuing reforms successes are in the focus of the United States.
He recalled that a representative office of the U.S. Department of Commerce will launch operation in Baku in 2009.
Heydar Babayev said that Azerbaijan attaches great attention to the development of foreign trade and the countryâ€™s foreign trade is growing year by year.
According to him, trade and economic relations between Azerbaijan and the United States further deepened over the past five years.
In his words, given that the trade turnover totaled US$497 million in 2007, the figure reached US$4.2 billion for the seven months of this year and is expected to gorw to US$5 billion at the yearend.
The meeting discussed a number of issues, including Azerbaijanâ€™s WTO accession efforts and the establishment of special economic zones.
It was noted in the meeting that along with the creation of a business enabling environment, the country makes great strides in the formation of market infrastructure (industrial town, business incubators and business centers).