Athletic

Netherlands invests over $330M in Azerbaijan’s non-oil sector over 3 years

Dutch companies invested more than $330 million in Azerbaijan’s non-oil sector over the past three years, Shahin Mustafayev, Azerbaijani economy minister, said.

He made the remarks at the meeting with Minister of Economic Affairs of Netherlands Henk Kamp, Azerbaijani Economy Ministry said May 11.

Currently, 112 companies with Dutch capital operate in Azerbaijan, said Mustafayev adding that a number of these companies operate as contractors.

During the meeting, it was proposed to expand cooperation in such fields as agriculture, ICT, energy, tourism, environment, cargo transportation. Dutch companies were also offered to become residents of industrial parks, agricultural parks and others.

It was mentioned during the meeting that the next Azerbaijani-Dutch business forum, which is to be held on May 17 in Baku, will play an important role in the development of relations between the two countries.

Henk Kamp praised the economic reforms implemented in the country and emphasized the favorable opportunities for expansion of Dutch companies’ activities in Azerbaijan.

The trade turnover between Azerbaijan and the Netherlands totaled $44.71 million in the first quarter of 2016, some $21.65 million of which accounted for the export to the Netherlands, according to Azerbaijan’s State Customs Committee.

Source: Trend