On November 25, within the framework of the third meeting of the working group on trade and economic cooperation between the Republic of Azerbaijan and the Xinjiang Uygur Autonomous Region (XUAR) of the People’s Republic of China held in Baku, a delegation led by Zhao Chung, Deputy Chairman of XUAR, visited Sumgait Chemical Industrial Park.
Deputy Minister of Economy Niyazi Safarov reported on comprehensive measures undertaken under the leadership of the President of the Republic of Azerbaijan on sustainable development and diversification of economy, development of the non-oil sector, creation of new based on innovation and export-oriented competitive industries. It was noted that Program Documents were adopted in this direction, different incentive mechanisms aiming to improve the business and investment climate and support the entrepreneurial environment were applied. During the first 10 months of this year the country's GDP growth was 2.5%. For the past period of 2019, the volume of non-oil industry increased by 2.8 times. 6% of non-oil GDP in industrial parks. Noting the successful development of trade relations between Azerbaijan and China Deputy Minister added that in 2019 (compared to 2018) imports between two countries increased by 18% and exports by 20%. There is great potential for further expansion of bilateral trade and economic relations, and in order to realize this potential, consistent measures are being taken. Moreover, there were opened trading and wine houses in Shanghai, Urumqi and Liuzhou to ensure the export of local products to China under the trade mark “Made in Azerbaijan”, as well as export missions from Azerbaijan to several Chinese cities were organized (Hong Kong, Guangzhou, Urumqi, Shanghai and Beijing).
It was also noted that in order to support entrepreneurship in the industrial sector and increase employment in the manufacturing sector, industrial zones are being created. Currently, there are 5 industrial parks and 5 industrial estates in Azerbaijan. There are 44 residents in industrial parks, 24 of which have already begun their production. To date, 5.7 billion AZN were invested to industrial parks, about 9 000 jobs have been created. There are 38 residents (participants) in industrial estates, and 22 of them have already begun production. Also, Azerbaijan and China plan (work is underway) to establish agro-industrial parks in Azerbaijan.
Director of Sumgait Chemical Industrial Park LLC Nazim Talibov informed the guests about the work done in industrial parks, as well as about favorable conditions created for entrepreneurs, the services provided for residents, and the benefits applied. It was emphasized that on April 27, 2019 in Beijing, within the framework of “One Belt, One Road” International Cooperation Forum (attended by representatives of up to 150 countries), there was signed a Memorandum of Understanding between Sumgait Chemical Industrial Park LLC and Chinese company CNEEC (China National Electric Engineering Co Ltd) on the construction of a tire production plant in Sumgait Chemical Industrial Park.
During the meeting a video presentation on the activities of industrial parks was presented.
Deputy Chairman of XUAR Zhao Chung noted that Azerbaijan is the main trading partner of China in the South Caucasus, the relations between the two countries are based on the principles of mutual friendship and partnership, and spoke about directions of development of cooperation.
Finally, exchange of views was held.
Then the guests became acquainted with the work implemented in Sumgait Chemical Industrial Park and enterprises of SOCAR Polymer LLC, which is the resident of the Park.
