Azerbaijan signs deal on economic and technological cooperation with China

The fourth meeting of the Azerbaijani-Chinese intergovernmental commission on trade and economic cooperation was held in Baku on July 18 and resulted in signing an agreement on economic and technological cooperation between Azerbaijan and China, as well as a protocol after the meeting, Trend reports citing the press service of the Cabinet of Ministers Azerbaijan.

The intergovernmental commission is co-chaired by Deputy Prime Minister Abid Sharif on the part of Azerbaijan and Vice Minister of Commerce Chong Shang on the Chinese side.

Participants of the meeting discussed the expansion of economic relations between the two countries. The trade turnover between the two countries increased by 50.57 per cent in 2010  and amounted to 926 million dollars. In 2010, exports from Azerbaijan to China increased 2.6 times, imports of Chinese goods - by 21 percent.