French companies invested $ 2.2 billion in Azerbaijan’s economy between 1995 and 2019, of which $ 2 billion directed to the oil sector and $ 194.1 million to the non-oil industry.
Azerbaijani Ambassador to France Rahman Mustafayev said in an interview with Report’s French bureau. “Besides, French companies are involved in 42 projects worth $ 2.1 billion funded by the state budget. Well-known French giants Total, Alstom, Suez, Thales, Danone, Airbus, Bouygues, Iveco, Sanofi have been operating in various sectors of the economy in Azerbaijan for many years,” he said.
French companies are currently working on the implementation of more than 40 different projects in Azerbaijan. Some of them are at the level of proposals, discussion of project terms, and participation in the tender: “As you know, in recent years, the Minister of Agriculture of Azerbaijan has visited Paris and regions. As a result, various projects in the field of agriculture and especially livestock development in our country are being discussed”.
According to the ambassador, Azerbaijan is of strategic economic importance to France. Azerbaijan is the most important economic and trade partner of France in the South Caucasus: “The two countries have cooperation in all areas of the economy.”
There are 61 French companies registered in Azerbaijan, and their primary areas of activity are energy, industry, transport, space, trade, services, and agriculture.
In 2019, the share of France in Azerbaijan’s foreign trade turnover was 2.36% (11th place), including 1.83% in imports (12th place) and 2.73% in exports (11th place).