Baku News

BAKU, May 23 (RIA Novosti) - Trade between Azerbaijan and Germany increased 24% year on year in 2005 to reach $250 million, Azerbaijan's deputy economics minister said Tuesday. Niyazi Safarov said German investments in Azerbaijan totaled some 160 million euros, and that cooperation with the EU and Germany in particular was a priority for the country's economic policy. German Ambassador to Azerbaijan Detlef Lingemann said the German government backed the country's program to develop its oil sector, and encouraged German companies to join projects in the area.