Coun­try seeks to at­tract Ger­man in­vestors to its econ­omy

Azer News - - Business - By Trend

Azer­bai­jan and Ger­many have been im­ple­ment­ing mu­tu­ally ben­e­fi­cial, equal and fruit­ful co­op­er­a­tion for a long time, and the po­lit­i­cal di­a­logue be­tween the two coun­tries has been es­tab­lished at the high­est level, Am­bas­sador Ex­tra­or­di­nary and Plenipo­ten­tiary of the Repub­lic of Azer­bai­jan to the Fed­eral Repub­lic of Ger­many Ramin Hasanov said in an in­ter­view with Trend.

He added that eco­nomic re­la­tions be­tween Ger­many and Azer­bai­jan are de­vel­op­ing at an ac­cel­er­ated pace, and this is one of the main pri­or­i­ties.

"Both coun­tries are in­ter­ested in deep­en­ing the ex­ist­ing re­la­tions, as well as in rais­ing them to a higher level, es­pe­cially, given the fact that there is great po­ten­tial for this," the diplo­mat said.

"There are many ar­eas for co­op­er­a­tion: agri­cul­ture, trans­port, lo­gis­tics, tourism, the study of best prac­tices in the field of in­no­va­tive tech­nolo­gies, etc.," the Am­bas­sador said. "Ger­man ex­pe­ri­ence and tech­nol­ogy are highly val­ued in Azer­bai­jan. Deep­en­ing co­op­er­a­tion for the use of this po­ten­tial is the most im­por­tant area of bi­lat­eral re­la­tions."

"We are also in­ter­ested in at­tract­ing Ger­man in­vestors to var­i­ous sec­tors of Azer­bai­jan’s econ­omy," Hasanov said.

He par­tic­u­larly noted the po­ten­tial of co­op­er­a­tion be­tween the two coun­tries in the sphere of tourism.

"One of the chal­lenges fac­ing Azer­bai­jan cur­rently is the de­vel­op­ment of tourism in the coun­try at the in­ter­na­tional level," Hasanov said. "There are di­rect flights be­tween Baku and sev­eral Ger­man cities. Rich his­tory, cul­tural diver­sity of Azer­bai­jan, its beau­ti­ful and di­verse na­ture, his­tor­i­cal mon­u­ments, Baku’s ar­chi­tec­ture (which is suc­cess­fully de­vel­op­ing and be­ing en­riched) – all of th­ese fac­tors can at­tract Ger­man tourists to Azer­bai­jan, who, as well known, are amongst the most trav­el­ling nations in the world. Thus, ac­quaint­ing Ger­many with our huge tourism op­por­tu­ni­ties is one of the main di­rec­tions of our work here,"-said Hasanov.

Ac­cord­ing to him, in 2016, about 13,000 Ger­man tourists vis­ited Azer­bai­jan and this year the tourist in­flow is ex­pected to grow up to 14,500 peo­ple.

"At the same time, Azer­bai­jan’s po­ten­tial in such ar­eas as coun­try­side tourism, eco­tourism and health tourism, can also cause great in­ter­est among Ger­man tourists," the diplo­mat said.

As for the trade re­la­tions be­tween the two coun­tries, the Am­bas­sador men­tioned that this sphere is one of the most dy­namic in our co­op­er­a­tion. "In 2016, the trade turnover be­tween the two coun­tries amounted to about two bil­lion eu­ros," he said. "Azer­bai­jan’s trade turnover with Ger­many in Jan­uary-June 2017 amounted to 715 mil­lion eu­ros, 577 mil­lion eu­ros of which ac­counted for the ex­ports to Ger­many."

"The main share of Azer­bai­jani ex­ports ac­counts for oil and oil prod­ucts," he noted. "Azer­bai­jan is in the fifth place among the coun­tries that sup­ply oil to Ger­many. Azer­bai­jan also con­sid­ers Ger­many as a strate­gic mar­ket for the ex­port of non-oil, in par­tic­u­lar agri­cul­tural and in­dus­trial prod­ucts. In turn, Azer­bai­jan im­ports phar­ma­ceu­ti­cal prod­ucts, build­ing ma­te­ri­als, chem­i­cal prod­ucts, equip­ment."

"In gen­eral, Azer­bai­jan is Ger­many’s most im­por­tant eco­nomic and trad­ing part­ner in the South Cau­ca­sus," Hasanov said. "Ac­cord­ing to the Ger­man Fed­eral Min­istry for Eco­nomic Af­fairs and En­ergy, Azer­bai­jan’s share in Ger­many’s trade turnover with the coun­tries of the South Cau­ca­sus was around 70 per­cent in the first half of 2017."

"De­spite this fact, both coun­tries con­tinue work­ing on the ex­pan­sion of the trade re­la­tions", he noted.

"One of the ac­tiv­i­ties of Azer­bai­jan’s Em­bassy in Ger­many is to as­sist busi­ness­men of the two coun­tries in forg­ing part­ner­ships," he said. "To this end, the diplo­matic mis­sion as­sists Azer­bai­jani en­trepreneurs in par­tic­i­pa­tion in the spe­cial­ized ex­hi­bi­tions in Ger­many, de­mon­stra­tion of their prod­ucts and pro­mo­tion of the "Made in Azer­bai­jan" brand."

Ac­cord­ing to the diplo­mat, about 170 Ger­man com­pa­nies op­er­ate in Azer­bai­jan. There is the Ger­man-Azer­bai­jani Cham­ber of Com­merce in Baku.

"The open­ing of the sec­ond (among the CIS coun­tries, af­ter Moscow) of­fi­cial cham­ber of com­merce in Baku is an in­di­ca­tor of the dy­namic de­vel­op­ment in the eco­nomic re­la­tions be­tween the two coun­tries and the man­i­fes­ta­tion of Ger­many’s great eco­nomic in­ter­est in Azer­bai­jan," the Am­bas­sador said.

"Over the past 20 years, Ger­man com­pa­nies have in­vested about $500 mil­lion in the non-oil sec­tor of Azer­bai­jan," he said.

The Am­bas­sador also noted the po­ten­tial of co­op­er­a­tion with Ger­many for Azer­bai­jani in­vestors and en­trepreneurs.

"For Azer­bai­jani in­vestors, such ar­eas of the Ger­man econ­omy as con­struc­tion of tourism fa­cil­i­ties, in par­tic­u­lar ho­tels, restau­rants, etc. may be at­trac­tive," he added. "The Ger­man mar­ket can also be at­trac­tive for Azer­bai­jan’s agri­cul­tural pro­duc­ers."

"Prospects for eco­nomic co­op­er­a­tion and spe­cific pro­jects are be­ing con­sid­ered within the frame­work of the meet­ings of the Azer­bai­jani-Ger­man in­ter­gov­ern­men­tal com­mis­sion on trade and eco­nomic co­op­er­a­tion," the Aam­bas­sador said.

"The last meet­ing of the in­ter­gov­ern­men­tal com­mis­sion took place last year in Baku, and, ac­cord­ing to the ro­ta­tion, the next meet­ing will be held in Ber­lin in Novem­ber of 2017," he noted. "Now the agenda of the meet­ing is be­ing con­sid­ered."

Ac­cord­ing to the diplo­mat, fairly solid le­gal frame­work, cov­er­ing all spheres of co­op­er­a­tion, has been es­tab­lished be­tween the two coun­tries.

"Tak­ing into con­sid­er­a­tion that such a frame­work re­quires reg­u­lar up­dat­ing and im­prove­ment, the work on it is be­ing con­stantly car­ried out," Hasanov said, stress­ing that a num­ber of new draft agree­ments are be­ing con­sid­ered.

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