China and Azerbaijan are taking their partnership to new heights, following the signing of 13 projects between Azerbaijani and Chinese institutions and enterprises at the recent China-Azerbaijan Industry and Investment Cooperation Promotion Conference in Beijing.
The agreements cover a wide range of areas, including the digital economy, aluminum expansion, and the establishment of agricultural machinery production sites. These developments signal a significant boost in economic cooperation between the two nations.
Azerbaijan’s Ambassador to China, Bunyad Huseynov, emphasized the importance of this relationship during the conference. “Azerbaijan attaches great importance to its cooperation with China,” he said, noting that Azerbaijan is China’s biggest trading partner in the South Caucasus, while China is Azerbaijan’s fourth-largest trading partner and largest source of imports.
Bilateral trade between the two countries has seen impressive growth, increasing by over 43 percent in 2023 to surpass $3.1 billion. This upward trend continued into 2024, with trade from January to July reaching $2 billion, marking a 21 percent increase.
The cooperation isn’t limited to trade. Both countries are exploring alignment in green development strategies and policy coordination. Institutions like the China Electricity Council and Tsinghua University’s Center for Energy Transition and Social Development Research have engaged in in-depth exchanges with Azerbaijan’s government departments, enterprises, and research institutions.
In July, Azerbaijan signed a framework agreement with Chinese electric vehicle manufacturer BYD Auto Co., Ltd. Beyond Azerbaijan’s purchase of 160 electric buses, the partnership aims for deeper cooperation in localized production and other areas in the future.
Chinese enterprises have also been selected to supply solar panels for Azerbaijan, with ongoing discussions about direct Chinese investments in Azerbaijan’s green energy sector.
President Ilham Aliyev of Azerbaijan is set to pay a state visit to China from April 22 to 24. During his visit, he will engage in in-depth discussions with Chinese leaders to chart the course for the development of bilateral relations. A Chinese Foreign Ministry spokesperson expressed optimism about the visit, stating it will “further deepen the strategic partnership between the two countries and bring more benefits to the people of both countries.”
At a recent international forum in Baku, President Aliyev highlighted the significance of the partnership with China. He stated that establishing a strategic partnership with China is “a very important milestone” for Azerbaijan. The president also reaffirmed Azerbaijan’s support for the Belt and Road Initiative, noting that the country has “not only publicly supported but also invested in it.”
As China and Azerbaijan continue to strengthen their ties, the future looks promising for both nations, paving the way for enhanced cooperation and mutual growth.
Reference(s):
cgtn.com