ISLAMABAD: The China–Pakistan Economic Corridor (CPEC) is significant forAzerbaijan, due to the fact this project would allow Azerbaijan to exportgoods to China.
Ambassador of Pakistan to Azerbaijan Sajid Khan Mohmand said that the goodscan be sent to China from Astrakhan via Azerbaijan, Iran and Pakistan.
“We are also expanding the main seaport of Gwadar. By 2025, the port canaccept more and more large vessels, and there are transport corridorswithin the Lapis Lazuli project and the Ashgabat agreement that connectAzerbaijan with Pakistan and Central Asia, all of which can be of greatimportance for Azerbaijan,” the ambassador was quoted as saying byAzerbaijani newspaper “AzerNews” on Tuesday.
CPEC is a collection of infrastructure projects that are currently underconstruction throughout Pakistan. Originally valued at $46 billion, thevalue of CPEC projects is now worth $62 billion.
CPEC is intended to rapidly modernize Pakistani infrastructure andstrengthen its economy by the construction of modern transportationnetworks, numerous energy projects, and special economic zones.
Trade and economic contacts occupy a significant place in bilateralrelations between China and Azerbaijan.
The process of interaction between the two countries was marked by constanttendencies of expansion and strengthening of cooperation.
The cooperation between China and Azerbaijan strongly contributes to therealization of the Great Silk road program.
China became Azerbaijan’s 4th largest trading partner in 2017. Customs dataof Azerbaijan estimated bilateral trade at a record close to $1.3 billionin 2017, up 33 percent from the previous year.
Exports of Azerbaijani goods amounted to $433.8 million (3.21 percent oftotal exports), while imports of Chinese products to Azerbaijan reached$854.5 million (9.73 percent of total imports).