Azerbaijan discloses new spheres for UK investments
Iccia News | December 15, 2017- Azerbaijan focuses on involving UK companies into the non-oil sector of its economy, Azerbaijani Economy Minister Shahin Mustafayev told reporters in Baku Dec. 14.
The minister said that at present this is a priority.
"The oil and gas sector has always been the main sphere of cooperation between two countries,” Mustafayev said. “But today we want to give a new impetus to our relations. UK may be interested in production and processing of agricultural products, tourism, transport and logistics. We urge UK companies to invest in these sectors."
In her turn, UK Minister of State for Trade and Export Promotion at the Department for International Trade, Baroness Rona Fairhead expressed her gratification with the meeting of the intergovernmental commission.
Baroness Fairhead said that UK aims at expanding cooperation in tourism, education and agriculture, adding that Azerbaijan and UK should increase bilateral trade.
The data from the Azerbaijani State Customs Committee show that the trade turnover between Azerbaijan and UK amounted to $240.46 million in January-November 2017, of which almost $30 million accounted for the export of Azerbaijani products.
UK ranks first among foreign investors of Azerbaijan. Until now, UK has invested over $27 billion in the Azerbaijani economy.