BAKU, Azerbaijan, April 27. Azerbaijan and the Czech Republic signed new memos on industrial and investment cooperation at a joint business forum, Trend reports, citing the Ministry of Economy.
The memoranda encompass a series of cooperative agreements involving the Azerbaijan Export and Investment Promotion Agency (AZPROMO). These include memoranda of cooperation with the companies “Frýdlantské Strojírny – TR s.r.o.,” the Association of Women Entrepreneurs of Bohemia and Moravia, and the Association for the Development of Women’s Entrepreneurship in Azerbaijan. Additionally, memoranda of understanding were signed between AZPROMO and the Czech Confederation of Industry, between the Sumgayit Technopark and Škoda Transportation, as well as between BCC Group CJSC (Azerbaijan) and the companies WITKOWITZ, A.S., and RADIS D.O.O.
Meanwhile, it was noted that the signed documents cover support for entrepreneurship, expansion of business activity, and promotion of cooperation in areas such as industry, infrastructure, and transport. It is emphasized that the exchange of memorandums will contribute to strengthening and diversifying the economic partnership between Azerbaijan and the Czech Republic.
Speaking at the business forum, Minister of Economy Mikayil Jabbarov emphasized that economic relations between Azerbaijan and the Czech Republic are developing based on mutual trust and shared priorities. It was noted that the Joint Commission on Economic, Scientific, Technical, and Cultural Cooperation with the Czech Republic plays an effective institutional role in strengthening the partnership. The Czech Republic is one of Azerbaijan’s key trade and export partners.
Azerbaijan makes a significant contribution to ensuring the Czech Republic’s energy security. At the same time, trade diversification is one of the key priorities of the economic partnership. The broad prospects for joint activities with the Czech Republic in the fields of industry, trade, investment, energy, including green energy, transport and logistics services, and other areas were noted. The country’s economic potential, favorable business environment, and investment platforms supporting trade, manufacturing, and logistics were highlighted, as well as the opportunities created for investors in the Karabakh and Eastern Zangezur economic zones.
Karel Havlíček, First Deputy Prime Minister and Minister of Industry and Trade of the Czech Republic, noted the wide range of opportunities for strengthening the economic partnership between Azerbaijan and the Czech Republic, emphasized the importance of the business forum and similar events for the development of cooperation, and shared his views on areas for further collaboration.
Yusif Abdullayev, Executive Director of AZPROMO, delivered a presentation on Azerbaijan’s investment potential and economic opportunities.
Jan Rafaj, president of the Confederation of Czech Industry, emphasized the importance of strengthening ties between the business communities and discussed mechanisms for cooperation and new opportunities for partnership.