U.S.-Azerbaijan Agribusiness Forum held in Baku

U.S.-Azerbaijan Agribusiness Forum held in Baku
# 22 May 2007 15:05 (UTC +04:00)
The trade mission is an ideal opportunity for U.S. firms to explore the fast-growing food and agriculture market in Azerbaijan, study available projects and secure short- and long-term contracts with Azerbaijani importer, suppliers and producers of diverse food and agricultural equipments and products.
The mission is designed specifically to help U.S. firms establish long-term partnerships with Azerbaijani firms, identify potential projects, and find reliable buyers and/or suppliers of valuable agricultural products from the region.
Mahir Isgandarov, Executive Director of the USACC said the trade mission participants will visit the regions of Azerbaijan that focus on food and agriculture production and will also have one-on-one individual business appointments with executives from prospective suppliers, distributors, and partners.
Ismat Abbasov, Agriculture Minister of Azerbaijan, added that the United States is the key investor country for Azerbaijan and an agricultural goods storehouse was constructed in Jalilabad region with support of the US Government.
He spoke of agriculture reforms and achievements, saying there is rapid growth in this sector.
“The private sector has 99% share in production of agricultural goods. Pushed by local production increase, grain and meat imports continue to fall year by year. There is good potential for participation of US firms in production and processing of agricultural products here,” he noted.
Frank Mermoud, US Department of State Special Representative for Commercial and Business Affairs, said the amount of US investments in Azerbaijan will reach $47 billion by 2010. He said there are good opportunities for expansion of relations in non-oil, energy and trade sectors, adding that US exports to Azerbaijan reached $3 million and imports $850,000 during 2006. /APA-Economics/