Baku hosts Azerbaijan-Germany Business Forum

Baku hosts Azerbaijan-Germany Business Forum
# 19 October 2007 14:17 (UTC +04:00)
The event was attended by Azerbaijan’s Economic Development Minister Heydar Babayev, Industry and Energy Minister Natig Aliyev German ambassador to Azerbaijan Per Stankina, Member of the Managing Board at Siemens AG Rudi Lamprecht and Azerbijan Export and Investment Promotion Foundation President Emil Majidov.
Per Stankina advised German businessmen to take advantage of favorable cooperation opportunities in Azerbaijan.
German Minister added that Azerbaijan exported 1.185 million tons of oil to Germany in 2006 and this figure is going to rise for 2007.
“It is very suitable for us to cooperate with crude and raw material suppliers. We intend to deepen economic cooperation with Azerbaijan,” he added.
Heydar Babayev said foreign capital accounted for the majority of the $42 billion investments made in Azerbaijan. He added that the trade turnover between the two countries stood at $500 million in 2006 and the figure reached $200 million during January-July of 2007.
“There is great potential to further boost trade. We should not miss the opportunity,” he underscored.
According to the data of the European Union, the trade turnover reached €1.1 billion during 2006.
Natig Aliyev noted that German companies have great experience in solar, wind and other alternative energy generation.
“We need to cooperate in these fields and implement various projects,” he noted.
Rudi Lamprecht said they intend to build thalasthemia and renal transplantation centers in Azerbaijan.
The event brought together about 80 representatives from Germany’s oil and gas, electricity generation, construction, health, chemistry, education, trade, finance and transportation and 120 businesspeople from Azerbaijan.
The next forum will be held in January in Baku. /APA-Economics/