China, Azerbaijan sign deals worth $821M

Chinese and Azerbaijani companies have signed ten agreements covering various fields on the sidelines of the second Belt and Road Forum for International Cooperation to be held in Beijing. The total amount of the contracts is worth $821 million.

Addressing the signing ceremony, Azerbaijan's Minister of Economy Shahin Mustafayev said that the political will and friendly ties of the Azerbaijani and Chinese presidents are the key driving forces for the development of cooperation between the two countries.

Minister Mustafayev described Azerbaijan as China's key trade partner in the South Caucasus region, saying that the country accounts for 43 percent of China's trade in the South Caucasus.

In his remarks, co-chair of the Azerbaijan-China Intergovernmental Trade and Economic Cooperation Commission, head of the Eurasia Department of the Ministry of Commerce Luo Weidong expressed China's interest in increasing the import of agricultural, chemical and industrial products from Azerbaijan, as well as deepening cooperation on the creation of the digital Silk Road and development of the Silk Road e-commerce.

Following the speeches, MoUs on cooperation between Chinese and Azerbaijani companies were signed.