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U.S. to Increase Investments in Azerbaijan

U.S. intends to increase the volume of investments in Azerbaijan, Deputy Assistant of the U.S . Secretary of Commerce Michael Lally told reporters last week at the event held in Baku on the 20th anniversary of US-Azerbaijan Chamber of Commerce (USACC) and the visit of the U.S. trade mission to Baku.

He said that the United States was one of the largest investors in Azerbaijan from the proclamation of independence of the country.

"Earlier we invested only in the oil and gas sector, now we are planning to focus on non-oil sectors: logistics, pharmaceuticals, information technology and so on," DAS Lally said.

To date, United States invested 10 billion dollars in Azerbaijan's economy. Currently there are 235 American companies in Azerbaijan.

During the first 9 months of this year, the trade turnover between the countries increased by five percent.

Source: Trend

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