A framework agreement was signed with the Chinese BYD Company Limited at a meeting held with the participation of Azerbaijan's Deputy Prime Minister Shahin Mustafayev.
The agreement was signed by First Deputy Minister of Economy Elnur Aliyev, Deputy Minister of Digital Development and Transport Rahman Hummatov, General Manager of Commercial Vehicle Operation Division of BYD Chunlong Tian and Director of "Electrify Azerbaijan" LLC Tariyel Rustamov.
The framework agreement envisages joint collaboration to purchase and maintain electric buses, maintain their service and establish local production in Azerbaijan.
Addressing the meeting, Deputy Prime Minister Shahin Mustafayev hailed Azerbaijan-China relations based on the principles of friendship, mutual understanding and support.
Noting that all necessary conditions are created for the Chinese companies to operate easily and efficiently in Azerbaijan, the deputy minister said that numerous Chinese companies benefit from the favourable and transparent business environment created in the country.
Shahin Mustafayev expressed his confidence that the cooperation with the BYD company would be successful, and thus, the signed documents would contribute to further enhancing mutually beneficial relations between Azerbaijan and China.
Azerbaijan's Deputy Prime Minister underscored that the agreement, signed just ahead of the 29th Conference of the Parties to the UN Framework Convention on Climate Change (COP 29), set to hosted by Azerbaijan this November, demonstrates Azerbaijan's commitment to global efforts against climate change.
Under the agreement, BYD intends to invest in new production facilities to build a comprehensive value chain in Azerbaijan.
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