China-Azerbaijan economic ties soar to new heights, says China's Chargé d'Affaires in Azerbaijan

The economic ties between China and Azerbaijan are developing in an ascending line, and the economic indicators of the two countries have reached the highest level, China's Chargé d'Affaires in Azerbaijan, Ding Tao, said, Azernews reports.

He announced the SCO Demonstration Zone - Logistics and Trade Promotion Conference in Azerbaijan.

Tao noted that the value of trade turnover between the two countries rose by 43.5% and reached $3.1 billion in 2023.

"China-Azerbaijan relations are developing in an ascending line. The ties between the two countries have passed the test of time. Currently, the ties have reached the highest level,” he added.

The diplomat underlined the importance of China-Azerbaijan cooperation in the transport sector within the Belt and Road Initiative.

Valeh Alasgarov, the chairman of the board of the authorised body of the AFEZ, said at the SCO Demonstration Zone - Logistics and Trade Promotion Conference in Azerbaijan that it will be more profitable for China to produce goods to be exported to Europe in the Azerbaijan-Alat Free Economic Zone (AFEZ).

He noted that this would free China from additional transport costs and create conditions to benefit from the concessions and opportunities of the AFEZ.

“Of course, it is necessary to further develop the Middle Corridor by making investments. The development of the Middle Corridor and the location of the free zone on this corridor are not accidental. We will be happy to see Chinese companies in Azerbaijan. Yesterday, the participants of this event, a delegation from China, visited the AFEZ. They had the opportunity to get familiarised with the conditions there and were informed about the advantages of the free zone. I once again invite Chinese companies to operate in the AFEZ.”