WNAM REPORT: The recent signing of a strategic partnership agreement between China and Azerbaijan is very important, political analyst from Pakistan Syed Basim Raza told report. The analyst noted that such agreements with China have always been beneficial for states, especially those with growing economies.
“Azerbaijan, located at the crossroads of Europe and Asia, is of vital importance to China as the ancient Silk Road, which China is eager to revive, passes through Azerbaijan into Europe,” he said.
The Belt and Road Initiative (BRI) of China spans across continents and is a mix of multiple road and sea connectivity projects, and Azerbaijan is strategically located with respect to the BRI, he added.
“The US decoupling from China pushes China to revitalize its economic strategy and engage with more vibrant markets with growth potential. In this regard, as a vibrantly growing economy, Azerbaijan is of immense importance to China and Chinese investments,” he said.
China seeks to engage with South Caucasus in the light of its directives of the Global Development Initiative (GDI), he noted.
“As Azerbaijan is emerging as a vital economy of South Caucasus, it needs sustainable GDP growth, which in turn relies on FDIs. Hence, the Chinese believe that enhancing trade by developing connectivity is the key element for the developing world,” he added.
