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Jul 11, 2024 383

A strategic partnership has been established between Azerbaijan and China!

#Local

"Azerbaijan and China expressed their willingness to actively explore the possibilities of creating an institutional mechanism for the liberalization and simplification of trade and investment procedures."

A strategic partnership and economic relations between Azerbaijan and the People's Republic of China were further deepened following a joint declaration signed in Astana. The declaration was part of the Shanghai Cooperation Organization Summit on July 3. It emphasizes boosting tourism collaboration and easing visa regulations for Chinese citizens in Azerbaijan to enhance economic, humanitarian, and cultural ties.

The declaration also introduces measures to simplify and liberalize trade and investment procedures under the umbrella of the World Trade Organization, indicating a commitment to supporting multilateral trade systems. Both countries expressed a willingness to continue making reciprocal visits easier for their citizens, thus strengthening mutual cooperation.

Additionally, the declaration involves initiatives for developing Azerbaijan and China's trade and investment frameworks, facilitating regional economic growth and environmental protection. This includes joint ventures and projects, highlighting Azerbaijan's strategic role in bridging European and Asian markets, thus reinforcing Azerbaijan's commitment to combating climate change in light of hosting the upcoming United Nations Climate Change Conference (COP 29).