By Leman Mammadova
The German-Azerbaijani Business Dialogue was organized by the Member of the German Bundestag Mark Hauptman and the Azerbaijani Embassy in Germany on November 28 in Berlin. Azerbaijan Export and Investment Promotion Foundation (AZPROMO) has acted as the partner of the event.The purpose of the business dialogue was to discuss the existing cooperation between the business circles of the countries, to establish B2B relations with potential partners and to discuss prospective business opportunities, AZERTAC informs.More than a hundred Azerbaijani and German companies attended the event.Member of the German Bundestag Mark Hauptman and Azerbaijani ambassador to Germany Ramin Hasanov made the opening speech. Then Deputy Minister of Economy of Azerbaijan Rufat Mammadov and State Secretary at the Federal Ministry for Economic Affairs and Energy Thomas Bareiß spoke about the bilateral economic relations between Azerbaijan and Germany and opportunities for further expansion of these ties in the future.Mammadov noted that Azerbaijan’s share in Germany’s trade with the South Caucasus was more than 70 percent, trade turnover rose 80 percent in the first nine months of this year and 206 German-owned companies were registered in various sectors of the country. He also added that Germany invested $ 560 million in Azerbaijan, 96 percent of which fell to the share of the non-oil sector, saying that the two countries have opportunities for cooperation in energy, agriculture, transport, education, pharmaceutical, chemical and mechanical engineering fields.Later, panel discussions were held on “Welcome to Azerbaijan: potential in business, agriculture and tourism” and “Azerbaijan as a new energy and logistics hub”.B2B discussions were also held between Azerbaijani and German companies within the framework of the event.In 2017, the total trade turnover between the two countries amounted to $ 1.35 million. Azerbaijani imports amounted to $ 352,238, while exports to Germany exceeded about $ 1 million.Germany occupies the 4th place in the trade turnover of Azerbaijan. Overall, Azerbaijan’s trade relations with EU countries increased by 42 percent in the first nine months of this year.According to the German Federal Economy and Immigration Control Office, Azerbaijan ranked eighth in 2017 among the countries providing oil to Germany. In 2017, about 2.5 million tons of crude oil was exported from Azerbaijan to Germany.Azerbaijan imports mainly medicines, construction materials, chemicals, high tech equipment, as well as agricultural products from Germany.The German KfW Bank, the International Cooperation Society (GIZ), the High-Level Trade and Investment Working Group, and the German-Azerbaijani Chamber of Commerce are of high importance for the development of economic relations between the two countries. The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan), established in 2012 in Baku, provides information and support to the companies as the official representative of the German economy on market and business research, also contributes to the organization of business meetings for the development of economic relations between countries.As of October 2018, Baku hosted the German-Azerbaijani Business Forum on Energy and ICT, organized by the German-Azerbaijani Chamber of Commerce (AHK Azerbaijan).Recalling that German AHK Azerbaijan organizes a business trip to the Z & Intec exhibition, the leading industrial exhibition in Saxony, which is to be held in Leipzig, Germany in February 2019, for the representatives of Mechanical Engineering, Machinery and Instrumentation organizations and enterprises of Azerbaijan.Business forums held in Germany to promote Made in Azerbaijan brand also contribute to the development of bilateral trade-economic ties.