USACC: Azerbaijan actively investing in US equity market

There are still plenty of untapped opportunities for further development of cooperation between Azerbaijan and the US, United States-Azerbaijan Chamber of Commerce (USACC) told Report.

“USACC will further continue its mission of exploring these opportunities and creating conditions for both sides to take full advantage of these opportunities,” USACC said, noting that currently, the US with over $13 billion investment is among the top investors to Azerbaijan’s economy. As for Azerbaijan, the country is actively investing in US equity and other markets, which makes the mutual investments between the two countries exceed $17 billion.

“The US and Azerbaijan have been partnering in strategic fields like energy and international security affairs. During the last three decades, both countries proved to be reliable and effective partners. The US rendered all necessary support to Azerbaijan during the realization of strategic projects, such as the Baku-Tbilisi-Jeyhan (BTC) crude oil pipeline and the Southern Gas Corridor. Today, both pipelines deliver the hydrocarbon resources of Azerbaijan and the Caspian Sea to Europe and have become an important segment of Europe’s energy security,” the chamber of commerce noted.

As for the impact of COVID-19, USACC noted that trade associations like USACC were significantly affected as their member companies hit by the pandemic.

“However, USACC continued its mission through largely utilizing the technological advantages of online platforms. During this time, we hosted series of webinars, online briefings, initiated direct talks between Azerbaijani and American public and private sector leaders and representatives. Our goal was to maintain the line communications open among stakeholders and make sure that the parties adhere to the previously agreed projects and ideas,” concluded the chamber of commerce.