5th meeting of Germany-Azerbaijan High-Level Working Group on Trade and Investments held

The meeting was co-chaired by Samir Valiyev, Head of the Administration of the Ministry of Economy and Industry of the Republic of Azerbaijan and Eckhard Franz, Director General for External Economic Policy of the Federal Ministry of Economic Affairs and Energy of Germany at the meeting.
The issues on current state of economic and trade relations between Azerbaijan and Germany, work done since the 4th meeting of the Working Group, expansion of economic cooperation for the upcoming period, including the issues on investment, industry, agriculture, education, oil-gas, energy efficiency and renewable energy, environmental protection, execution of twinning projects, opportunities for the participation of German companies in industrial parks created in Azerbaijan, participation of the local managers in professional business management courses in Germany and other issues were discussed at the meeting.
It was noted that 183 German companies were operating in Azerbaijan. Germany invested in fixed assets 475.5 million US dollars, including 345.2 mln. US dollars were invested into non-oil sector. German companies were actively involved in the projects as a subcontractor. Compared to 2013, the trade turnover in 2014 increased by 21%.
The Azerbaijani side spoke about the documents signed by the head of state in improving the business environment, including a two-year suspension of inspections in the field of entrepreneurship, application of "one window" principle issuing licenses, implementation of this operation at "ASAN service" centers, as well as the establishment of the Coordination Council on cargo transit in order to implement a single, flexible and transparent tariff policy in the field of transportation of transit cargo etc.
In addition, it was brought to the attention that the prejudiced and biased resolution of the German Bundestag given in June this year had a negative impact on the development of cooperation between the two countries, and that some German companies and organizations engaged in illegal activity in the occupied territories of Azerbaijan, data on those companies were presented to the opposite side, and the necessity of taking appropriate measures to prevent their illegal activity was emphasized.
The German side highly appreciated information about the reforms carried out in accordance with the development of entrepreneurship, and pointed out the efficient activities of "ASAN service" centers. It was noted that German companies are interested in implementing new projects in various fields of economy and information would be delivered to the companies through the German-Azerbaijan Chamber of Commerce.

German side also noted that activities of some German companies and organizations in the occupied territories of Azerbaijan would be investigated.

Note: Germany-Azerbaijan High Level Working Group on Trade and Investments was created in 2011 in accordance with the Memorandum signed between Ministry of Economy and Industry of the Republic of Azerbaijan and Federal Ministry of Economic Affairs and Energy of Federal Republic of Germany.

Ministry of Economy and Industry of the Republic of Azerbaijan