By Azernews

By Ayya Lmahamad

Azerbaijan participates in China International Fair for Trade in Services (CIFTIS), the most important international exhibition of China in the field of trade in services, which opened in Beijing on September 3, Azertag has reported.

The country’s participation is supported by the Economy Ministry and the organization of Azerbaijan's trade representative office in China.

Chinese entrepreneurs visiting the Azerbaijani stand are able to obtain detailed information about the conditions created for foreign investors in the country, and the benefits provided.

Moreover, the Center for Analysis and Coordination of the Fourth Industrial Revolution under Azerbaijan's Economy Ministry is represented at the exhibition for the first time.

Visitors can learn about the transit and transport potential of Azerbaijan, services offered to residents in industrial parks, and the opportunities and services offered to investors in the Alat Free Economic Zone.

Furthermore, tourism opportunities in Azerbaijan, food and agriculture products under the brand "Made in Azerbaijan" and sold in China are presented at the fair.

The main organizers of the exhibition, which is held at the state level since 2012, are China's Commerce Ministry and the Beijing Municipality. The exhibition will cover more than 100 events of six types, including a global services trade summit, forums, conferences, exhibitions, presentations and discussions.

Earlier, Azerbaijan’s Export and Investment Promotion Foundation reported that Azerbaijani companies will present their products at three international fairs by late 2021. The companies will present their products at Heimtextil Russia 2021 and WorldFood 2021 in Moscow, Russia, and China International Import Expo in Shanghai, China under the single country stand “Made in Azerbaijan”. 

Earlier this year Azerbaijan also participated in the International building materials exhibition MosBuild 2021, Prodexpo 2021 and TransRussia 2021 int’l transport expo in Moscow, Russia, China Food and Drinks Fair, TAOWINE Hotel Show exhibition and 31st International Trade and Economic Exhibition China, Global Village International Fair and Arabian Travel Market 2021 held in Dubai, the United Arab Emirates.

AZPROMO’s acting head Yusif Abdullayev earlier announced that Azerbaijani entrepreneurs would participate in a number of international exhibitions in 2021. He said that increasing foreign investments and developing new concepts to expand the geography of Azerbaijan’s exports would be among AZPROMO’s priorities in 2021.

According to the National Export Strategy, Azerbaijan's non-oil exports are planned to be doubled and reach $3.7 billion by 2025 compared to 2020.

In 2020, Azerbaijani entrepreneurs signed contracts worth AZN 14.8 million ($8.7M) during exhibitions in various countries. The value of exports carried out under these contracts amounted to more than AZN 10 million ($5.8M). In addition, 33 export missions and 33 international exhibitions were held in 2020.