Page 59 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.75, # 2, 2018, pp. 47-63

of Germany with South Caucasus. Germany was one of Azerbaijan’s top-ranking
export destinations in the first quarter of 2017.

In November 2012, the German-Azerbaijani Chamber of Commerce was established in
Baku. Almost 200 companies from both sides are members of the German-Azerbaijani
Chamber of Commerce. The German-Azerbaijani High-Level Working Group on Trade
th
and Investments was established in May 2011 and its 7 Meeting was held in November
2017 in Berlin. The German delegations headed by the chairman and managing director
of the German Committee on Eastern European Economic Relations have visited
Azerbaijan in March 2017 and February 2018 respectively. Moreover, during the official
visit of the German Federal Chancellor to Azerbaijan, in August 2018, a Business Forum
was organized with the participation of German companies.

Germany is a strategic market to export agricultural products of Azerbaijan. Currently,
in Azerbaijan’s exports to Germany, certain part in the non-oil sector belongs to the
agricultural products. Azerbaijan also imports agricultural products and machinery
from Germany.

Germany has invested over half a billion Euro to the economy of Azerbaijan,
especially to the non-oil sector. At present, German companies successfully operate
in Azerbaijan and they contribute to the development of non-oil economy.

Azerbaijan intends to boost its agricultural exports to Germany in coming years. In this
regard, Azerbaijan regularly participates, with a national stand, at various international
food and agricultural exhibitions held in Germany (“International Green Week”,
“ProWein”, “Anuga”, “Fruit Logistica” and etc.). Furthermore, Azerbaijan organizes
annual international agricultural exhibition, in Baku, entitled “CaspianAgro”. This gives
Azerbaijan an opportunity to demonstrate its agricultural products, promote agro-tourism,
hold “B2B” meetings and expand networking.

In order to further promote “Made in Azerbaijan” brand, in 2017, Azerbaijan
organized its first export mission to Germany with participation of a number of
national companies. The second export mission is envisaged to be organized by the
end of 2018. Azerbaijan is particularly interested in importing, from Germany, seeds
and semen with high productivity, sophisticated agricultural technologies, as well as
learning the experience and best practices of Germany in digitalization of agriculture
and green innovations. In this regard, Azerbaijan cooperates with relevant German
companies (e.g. “CLAAS Global Sales”, “Haller”, “Rapunzel”, “Holmer” and others).
Furthermore, “AzGranata” LLC’s subsidiary, namely “Granata GmbH and Co. KG”
is operating in Berlin and specialized in selling Azerbaijani pomegranate wine, juice
59