Azerbaijan and China may form free trade zone
Azerbaijan and China plan to establish joint free trade zones. The
initiative was announced at a session of the working group for
cooperation between Azerbaijan and the Xinjiang Uyghur Autonomous
Region of China in Baku, Trend reports.
The Azerbaijani Deputy Minister for Economic Development, Niyazi
Safarov, said that the two states actively cooperate in the economy,
politics and the social sphere. They have a wide range of bilateral
deals. The session was aimed at improving the document basis.
China and Azerbaijan have a turnover of about a billion dollars. It
covers the oil and non-oil sectors.
The deputy chairman of the Chinese Council for the Promotion of
International Trade, Liu Wenjie, said that trade turnover was $350
million in 2010 and reached $100 million in January-May 2011.
A protocol was signed at the end of the session.