A meeting was held between the Deputy Minister of Investment, Industry and Trade and the General Representative of the Automobile Group of ‘‘Sumitomo Corporation’’

On October 11th, the Ministry of Investment, Industry and Trade hosted a meeting between Deputy Minister Akram Aliyev and the General Representative – Director and Senior Executive Director of the Automotive Group of ‘‘Sumitomo Corporation’’, Norihiko Nonaka, the press service of the Ministry reports.

A constructive exchange of views took place regarding the prospects for implementing a joint project in the fields of automobile manufacturing and transport routes. Discussions focused on the creation of a logistics center and a duty-free trade zone to facilitate the supply of in-demand vehicles and spare parts to both local and foreign markets.

The parties identified key stages and practical aspects of the project, developed effective measures for their implementation based on a thorough analysis of market capacities, as well as financial, infrastructural, and legal opportunities.

As a result of the negotiations, mutual readiness for further development of mutually beneficial cooperation was confirmed, and a number of issues related to the implementation of the discussed project initiatives were agreed upon.

‘‘Sumitomo Corporation’’, founded in 1919, is today one of Japan’s largest trading companies. It has an annual turnover of $36.2 billion and employs 6,000 people. The company operates globally through 120 offices in 65 countries.