BAKU, Azerbaijan, May 17. On May 17, Serbian President Aleksandar Vučić met with representatives of Azerbaijan's business community in Baku, Trend reports.
The event was organized by the Export and Investment Promotion Agency (AZPROMO) with the support of the Ministry of Finance of the Republic of Azerbaijan, the Ministry of Finance of the Republic of Serbia, and the Development Agency of Serbia. The meeting was attended by officials, representatives of local businesses, companies, and associations.
During the meeting, issues related to expanding Azerbaijani-Serbian economic cooperation, developing trade and investment ties, and new opportunities for partnership between the business communities of the two countries were discussed.
Speaking at the meeting, Sahil Babayev, Minister of Finance of the Republic of Azerbaijan and Co-Chair of the Intergovernmental Commission on Trade and Economic Cooperation between the Republic of Azerbaijan and the Republic of Serbia, noted that relations between the two countries are characterized by a strategic partnership and are developing dynamically based on strong political will and dialogue between the heads of state.
The Minister emphasized that the commencement of Azerbaijani natural gas exports to Serbia in January 2024, as well as the implementation of the joint gas power plant project in the city of Niš, indicate that energy cooperation has moved to the stage of producing concrete practical results.
Sahil Babayev also noted that Azerbaijani-Serbian economic cooperation extends beyond the energy sector. He stated that mutual trust and the high level of political dialogue between the countries have created broad and tangible opportunities for cooperation in areas such as infrastructure, construction, transport, agriculture, tourism, and investment.
It was emphasized that, thanks to a favorable investment climate, macroeconomic stability, strategic geographic location, and modern transport and energy infrastructure, Azerbaijan is further strengthening its position as an important trade and investment hub in the region.
Babayev stated that the major infrastructure projects being implemented by AzVirt in Serbia are a significant example of the growing participation of Azerbaijani companies in international markets. It was also noted that opportunities for cooperation with SOCAR, including joint projects in green energy, infrastructure, and industrial development, are currently being discussed.
The Minister added that tourism is emerging as a new area of cooperation between the two countries, and the Serbian side's interest in joint projects with Azerbaijani companies in this sector further expands practical opportunities for collaboration.
The Azerbaijani Minister of Finance also emphasized the importance of expanding direct ties between the business communities of the two countries. He reported that work is ongoing to organize a business mission for Azerbaijani companies to Serbia and identify new project opportunities.
Serbian President Aleksandar Vučić, speaking at the meeting, expressed satisfaction with the development of the strategic partnership between Azerbaijan and Serbia. The President emphasized the importance of strengthening direct contacts between the business communities of the two countries, encouraging mutual investment, and expanding cooperation on specific projects.
It was noted that the activities of Azerbaijani companies in the Serbian market create important opportunities for further economic partnership.
The Serbian President stated that the launch of a direct flight between Baku and Belgrade has significantly contributed to the development of ties between the two countries. He emphasized that expanding cooperation in tourism is of particular importance, and that further strengthening of contacts between Azerbaijani and Serbian tourism companies is essential in this area.
Aleksandar Vučić also emphasized the importance of deepening cooperation in the energy sector. He noted that prospects for collaboration between the State Oil Company of Azerbaijan and Serbiagas on the construction of a new gas-fired power plant are being explored.
The Serbian President invited Azerbaijani business representatives to explore new investment opportunities in Serbia. He particularly noted the extensive potential for cooperation in retail, spa and mountain resort tourism, and agricultural products.
Serbian First Deputy Prime Minister and Minister of Finance Sinisa Mali spoke about his country's investment environment, economic development priorities, and opportunities for expanding cooperation with Azerbaijan. He emphasized the importance of supporting business initiatives in areas of mutual interest.
Vladimir Tomić, Director of the Strategic Investments Department of the Serbian Development Agency, presented information on existing support mechanisms for foreign investors in Serbia. It was noted that the Serbian market offers new opportunities for Azerbaijani companies to cooperate in various fields.
The event included presentations by companies and associations. Participants presented information about their areas of activity, export and investment potential, and potential areas of cooperation with the Serbian side.
The meeting was considered an important platform for further expanding economic ties between Azerbaijan and Serbia, stimulating practical cooperation between business communities, and identifying mutually beneficial projects.
