BAKU, Azerbaijan, June 20. The trade turnover between the two countries has increased by 10 times since the opening of the Embassy of Argentina in Azerbaijan, Argentine Ambassador Mariangeles Bellusci said during an event dedicated to the country's national holiday, TurkicWorld reports.

She also noted that over the past year, turnover has doubled compared to the previous year.

"Relations between our countries have been developing steadily and continuously since the early 1990s, which is reflected in numerous agreements aimed at strengthening ties and developing bilateral trade. There are no contradictions in these relations, on the contrary, similar views remain on the application of many general principles of international law," Bellusci said.

According to the ambassador, there are many opportunities for cooperation between the two countries in the economic and trade spheres, as well as in agriculture and animal husbandry.

"As an embassy, ​​we strive to ensure that Argentine companies can take advantage of the opportunities offered by the port of Alat, and that Azerbaijan becomes the center for the distribution of Argentine products not only locally, but also at the regional level," she said.

She added that a meeting of the Joint Working Group on Trade and Economic Cooperation is scheduled for the end of this year.

At present, active work is being conducted to create an appropriate legal and regulatory framework for the development of relations between Azerbaijan and Argentina. Azerbaijan's exports to Argentina stood at $11.31 million in 2022, according to the United Nations COMTRADE database on international trade.

Azerbaijan and Argentina have a joint working group on trade and economic co-operation. The group was established in accordance with the Agreement on Trade and Economic Co-operation between the Government of the Republic of Azerbaijan and the Government of the Argentine Republic, which was signed in July 2012.

On 9 March 1992, Argentina recognized the independence of Azerbaijan and on 8 November 1992 both nations established diplomatic relations.