94% of Germany's investments in Azerbaijan made in non-oil sector

In January-September 2024, the trade turnover between Azerbaijan and Germany exceeded $1.1 billion, Yusif Abdullayev, Executive Director of the Export and Investment Promotion Agency of Azerbaijan (AZPROMO), said during the German-Azerbaijan high-level business dialogue on green transformation organized within the framework of COP29, Report informs.

Germany has become Azerbaijan's sixth main trading partner.

According to him, German companies have been actively operating in Azerbaijan as of October 1. From 1995 to June 2024, the volume of investments from Germany to Azerbaijan exceeded $871 million, and 94% of these investments were in the non-oil sector. In turn, Azerbaijan has also made significant investments in Germany, with the total volume amounting to $592 million during the reporting period.