Baku, Paris eye deepening of economic interaction

Paris hosted the 8th meeting of the Azerbaijan-France Intergovernmental Commission on economic issues on December 13.

The Azerbaijani side was headed by country’s Finance Minister Samir Sharifov, while French side was led by Matthias Fekl, the Minister of State for Foreign Trade, Promotion of Tourism, and French Nationals Abroad.

The meeting’s agenda included issues of economic and financial cooperation, including in the sectors of energy, transportation, space and ICT, agriculture, environmental protection, culture, education, youth and sports.

During a separate meeting with Matthias Fekl, Sharifov highlighted the priorities in Azerbaijan`s economic policy.

Fekl noted that his country attaches great importance to cooperation with Azerbaijan.

Azerbaijan is an important partner for France, said French Finance Minister Michel Sapin

as he met with Samir Sharifov on the sidelines of the Commission.

Sapin underlined the significance of continuing bilateral cooperation, and expressed his country's constant support for Azerbaijan.

Sharifov, in turn, hailed France`s supporting Azerbaijan.

They exchanged views on the development of cooperation in a variety of fields of economy, as well as Azerbaijan's economic policy priorities and the challenges ahead.

They also focused on the scope of structural reforms to be implemented by the Azerbaijani government and their targets, and ways of supporting the Azerbaijani government in this regard.

Within the framework of the session, Deputy Minister of the Culture and Tourism Sevda Mammadaliyeva proposed French investors to participate in the development of tourism-recreational zones in Azerbaijan.

The deputy minister also recalled "Strategic Road Maps" approved by President Ilham Aliyev, noting that the Maps also cover development of tourism sector. She added that this decree will give an impetus for cooperation of Azerbaijan with many countries, including France.

During the session Mammadaliyeva spoke of perspectives of tourism cooperation between the two countries and underlined the importance of intensifying relations between tourism companies of the two states.

The Azerbaijani-French bilateral relations are excellent and marked by a significant number of visits on both sides.

France is one of the main trade and economic partners of Azerbaijan. So far, France has invested more than $ 2.4 billion in Azerbaijan's economy. The country has 40 companies with French capital that operate in the areas of agriculture, construction, transport, tourism, ICT, environment and others.

Trade turnover between Azerbaijan and France amounted to $557.1 million in January-October 2016, $430.3 million of which accounts for exports to France, according to Azerbaijan’s State Customs Committee.

French imports from Azerbaijan consist exclusively of energy products, French exports to Azerbaijan are more diverse than its imports (with transport equipment posting the highest growth). In terms of investment and big contracts, French firms have a strong position in the oil and oil-related sector, as well as in the banking, telecommunication and transport sectors.

The French-Azerbaijani relations in the areas of culture and cooperation are excellent. The French Lyceum in Baku was opened in 2014 by President Fransua Holland and provides more than a hundred students with education from kindergarten and bachelor degree on the basis of the French Ministry of Education. Also, French-Azerbaijan University opened in the fall of 2016.