CASPIAN OIL & GAS - French companies invest $2.4B in Azerbaijan’s economy

French companies invest $2.4B in Azerbaijan’s economy



French companies in total invested $2.4 billion in Azerbaijan's economy, said Shahin Mustafayev, Azerbaijani economy minister.

He made the remarks during the meeting with Marie-Ange Debon, co-chairperson of Azerbaijan-France Business Council and senior executive vice-president of the SUEZ Group, Azerbaijani Economy Ministry said.

Mustafayev said that the economic relations between the two countries develop in various directions and currently, more than 40 companies with French capital operate in Azerbaijan. French companies also participate in projects implemented with government investments.

The minister invited French companies to invest in the spheres of agriculture, transport, construction, aviation, tourism, high technologies, ecology and others, in particular, in the projects implemented in private sector.

Marie-Ange Debon pointed out the potential to expand cooperation between the two countries' businessmen. She added that current visit will allow French businessmen to become better acquainted with the business and investment opportunities in Azerbaijan.

During the meeting, France's Ambassador to Azerbaijan Aurelia Bouchez said that Azerbaijan is France's important partner in the South Caucasus, adding that France is interested in expanding cooperation with Azerbaijan.

Bouchez noted that the economic reforms implemented in Azerbaijan create good opportunities for foreign companies, including French companies.

The trade turnover between Azerbaijan and France totaled $233.13 million in the first quarter of 2016, some $200.89 million of which accounted for the export to France, according to Azerbaijan's State Customs Committee.