“One Belt — One Road” as an Important Factor of Strengthening Economic Cooperation Between Azerbaijan and China

Abstract

The article considers the philosophy of the “One Belt — One Road” Project and the reasons for its occurrence, as well as the economic cooperation between Azerbaijan and China within the framework of the project. The National Development Strategy of Azerbaijan Restoration of the Great Silk Road is highly compatible with the concept of joint construction of “One Belt — One Road”.

Azerbaijan is one of China’s main cooperation partners in Eurasia. Prospects for the development of world trade are largely related to the implementation of the Chinese One Belt, One Road project, which will significantly change modern trans-Eurasian transport flows. Azerbaijan needs to use the opportunities that open up in this connection and its transit potential to increase its role in world trade and to accelerate its own economic growth. This year marks the 30th anniversary of the establishment of diplomatic relations between China and Azerbaijan. At this new starting point in history, both countries have wide prospects for mutually beneficial cooperation in trade and investment, transport, infrastructure, agriculture, finance, digital economy, green energy and other areas. Over the 30 years of cooperation between China and Azerbaijan, the trade turnover of the parties has increased 500 times.