Azerbaijan invests more than $ 3 bln. in German economy

Azerbaijan invests more than $ 3 bln. in German economy
  • Clock-gray 10:15
  • calendar-gray 27 September 2019

Germany has invested more than $ 615 mln. in economy of Azerbaijan, that 96% has belonged to non-oil field, Deputy Minister of Economy of Azerbaijan Niyazi Safarov said at Azerbaijani- German business forum, APA-Economics reports.

According to him, Azerbaijan has invested more than $ 3 bln. in Germany: “ Implemented by state funds of Azerbaijan and the total contract value amounted to $ 1.6 billion. dollars German companies are involved as contractors for 66 projects "

Deputy minister added that more than 70 documents has been signed between to countries so far. Among them are promotion and mutual protection of investments, elimination of double taxation, financial cooperation, technical cooperation and so on.

“ Financial and technical cooperation between Azerbaijan and Germany are being continued at present. The conduction of 9 projects- 4 local and 5 regional are being continued and the total value allocated to Azerbaijan is approximately  30 million euro”, deputy minister stated.

Huseyn Veliyev

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