The 7th meeting of the Azerbaijan-China Intergovernmental Trade and Economic Cooperation Commission has been held in the city of Beijing.

Minister of Economy, Co-Chair of the Commission on behalf of Azerbaijan Shahin Mustafayev led a delegation of officials and businessmen to the Chinese capital for the event.

Addressing the meeting, Mustafayev highlighted the history of the successful bilateral cooperation between the two countries. He noted that the Sino-Azerbaijani relations are based on friendship and mutual trust.

The Azerbaijani minister invited Chinese companies to benefit from the favourable business and investment environment in Azerbaijan, and establish joint ventures in the country`s industrial parks and hubs.

Mustafayev hailed China’s “One Belt, One Road” initiative, saying that Azerbaijan is one of the first countries to support this strategy and is closely involved in its implementation. He said the project opens up new opportunities for deepening bilateral cooperation between the two countries.

Co-chair of the commission, head of the Eurasia Department of the Ministry of Commerce Luo Weidong expressed China`s interest in developing relations with Azerbaijan. He shared his views on the prospects for development of these ties.

Weidong emphasised that Azerbaijan is a key trade partner of China in the South Caucasus region. He also praised the commission`s role in expanding Azerbaijani-Sino economic and trade relations and promoting new cooperation opportunities.

The meeting ended with the signing of the protocol that envisages the expansion of cooperation in industrial, agricultural, transit, logistics, trade, investment, ICT, financial, tourism, humanitarian and other areas.