Today Azerbaijan is turning from the importer country into the producer country, said Michael Hoffmann, a representative of the German-Azerbaijani Chamber of Commerce (AHK) and the CEO of Access Bank.
From this point of view, the German companies have particular interest in Azerbaijan, added Hoffmann.
He made the remarks June 2 in Baku at the Technology Forum Saxony-Azerbaijan “Innovative Technologies for Modernization of Industry”.
“We are glad that with the current economic conditions, we still have good opportunities for cooperation,” Hoffmann noted.
He also touched upon the strategy of Azerbaijan’s economic development and noted that the diversification of economy and industry, as well as the creation of the export-oriented economy are playing a key role in this regard.
“The German-Azerbaijani Chamber of Commerce will cooperate actively with Azerbaijan to support the development of the country’s economy,” he said.
The trade turnover between Germany and Azerbaijan totaled $355.25 million (7.04 percent of Azerbaijan’s total foreign trade volume) in January-April 2016, according to Azerbaijan’s State Customs Committee.