Azerbaijan and China cooperation
In the modern world, characterized by globalization and international economic cooperation, the relationship between China and Azerbaijan stands out as an exemplar of a successful and mutually beneficial partnership.
Over recent years, these two countries have significantly strengthened their economic and trade ties, evidenced by a surge in trade turnover and collaborative investment projects. The importance of this cooperation extends beyond bilateral interests, contributing to regional stability and economic development.
From January to October 2023, the volume of China-Azerbaijan trade reached an impressive 2.57 billion dollars, marking a 47.5 percent increase compared to the previous year. These figures clearly illustrate the growing significance of the economic relationship between the two countries.
China, emerging as the largest source of imports, has become
Azerbaijan’s fourth-largest trading partner, reflecting the strategic importance of this cooperation. Exports from China to Azerbaijan predominantly consist of high-tech products. Encompassing mechanical apparatus, electronic equipment, and automobiles, these goods account for over 50 percent of the total export volume.
This focus on advanced technologies significantly impacts Azerbaijan’s socio-economic development, opening new prospects for local businesses.
In recent years, ChinaAzerbaijan relations have demonstrated substantial deepening, thanks to a series of political and economic initiatives. The visit of Azerbaijan’s Deputy Prime Minister, Shahin Mustafayev, to China marked a significant milestone in these relations.
His participation in the open- ing ceremony of the 6th China International Import Expo and leadership in the 9th session of the China-Azerbaijan Intergovernmental Commission
underscored the mutual interest and readiness to strengthen cooperation. During this platform, the parties exchanged views on investment and trade issues. Special attention was given to project collaboration opportunities in promising areas such as alternative energy sources, power generation, and the construction of power stations.
These discussions not only promote the strengthening of bilateral economic ties but also open new horizons for joint innovative projects.
The Belt and Road initiative, launched by China, represents a vast project aimed at creating an extensive network of trade and infrastructure links across Asia, Europe, and beyond. Azerbaijan plays a pivotal role in this initiative, contributing to the development of new transportation routes and energy corridors.
A significant achievement of Azerbaijan within this initiative is the implementation of major transport projects such as the BakuTbilisi-Kars railway line and the Alat International Sea Port. These projects not only strengthen transport links between China and Europe but also foster economic development in the region.
Under the leadership
of
President Ilham Aliyev, Azerbaijan is actively participating in the development of the Trans-Caspian International Transport Route (TITR), also known as the Middle Corridor.
This initiative includes the creation of transport infrastructure in Karabakh and Eastern Zangazur, as well as planning for the future Zangazur Energy Transport Corridor.
In 2024, it is planned to reduce transit time on the Middle Corridor from 18-23 days to 1418 days, marking a significant improvement over previous figures. Particularly impressive is the reduction of transit time within Kazakhstan from 6 to 5 days.
These logistical improvements will not only speed up delivery but also make the route more competitive.
The volume of freight transport on the Middle Corridor in the first nine months of 2023 increased by 88 percent, reaching 2 million tons compared to 1.1 million tons for the same period in 2022.