Azerbaijan, China sign grant agreement

By: Amina Nazarli

A grant agreement between the Government of the People’s Republic of China and Azerbaijan was signed in Baku on December 8.

The document was undersigned by Azerbaijani Deputy Prime Minister Abid Sharifov and Chinese ambassador to Azerbaijan Hong Jiuyin.

The agreement aims to develop friendly relations and technical-economic cooperation between the two countries.

To this end, the Chinese government will allocate a grant in the amount of 30 million Chinese yuan ($4.5 mln) to Azerbaijan.

Addressing the event Sharifov, noted that the relations between Azerbaijan and China are expanding in all fields, including political and economics, saying that economic and cultural cooperation between two countries have a rich history.

Jiuyin, in turn, said that Azerbaijan is developing rapidly in recent years. The country has carried out important international events.

He stressed that the international prestige of Azerbaijan is increasing. “The trade and economic relations between the two countries have been deepened recently,” he added.

Earlier, the two sides signed about ten agreements on economic and technological cooperation, worth about $ 41 million. As part of these agreements there were implemented a number of projects.

China was the first East Asian country to recognize Azerbaijan’s territorial integrity and to open an embassy in Baku in 1992. Azerbaijan and China permanently support each other on international organizations.