TODAY.AZ / Business

Japan holds next business forum on Azerbaijan

04 August 2017 [16:17] - TODAY.AZ

By Azernews

By Sara Israfilbayova

Cross Border Club organized a business forum on Azerbaijan for local businessmen in Fukuoka, Japan.

General Manager of Cross Border Club Kazuyasu Ishida informed the participants of the forum about Azerbaijan’s business climate, adding that recently, interest of Japanese businessmen to Azerbaijan has increased.

He went on to say that the largest Japanese companies, as well as small and medium-sized entrepreneurs (SMEs) are trying to establish economic cooperation with Azerbaijan.

Further the speakers mentioned the exhibition, dedicated to the Japanese food products, which was held in Baku for the first time in November 2014.

Next such exhibition is scheduled for October 27-28.

Earlier, Ishida addressing a workshop for Japanese businessmen in Komatsu, Japan's Ishikawa prefecture said that the event will showcase Japanese food products, drinks, cosmetics and many other products, which will be delivered by direct flights from Komatsu.

The two-day exhibition will showcase about 500 high-quality Japanese products in 80 stands.

Diplomatic relations between Azerbaijan and Japan were established in 1992. A number of important projects are being implemented in Azerbaijan through the financial support of Japan, while very important infrastructure projects had already been commissioned in the country through Japanese government`s loans. 

Japan was one of the first countries to support Azerbaijan's forward-looking oil strategy. Today two major Japanese companies Itochu and Impex are involved in the Contract of the Century [signed on September 20, 1994 in Baku, a large-scale international contract on the joint development of three oil fields - Azeri, Chirag, Gunashli in the Azerbaijani Sector of the Caspian Sea].

Leaders of Japanese business, Mitsubishi, Mitsui, Marubeni, and Sojits are involved in energy and infrastructure projects in the country.

The trade turnover between Azerbaijan and Japan amounted to $22.08 million in January-March of 2017, according to the Azerbaijan's State Customs Committee.


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