BAKU, Azerbaijan, June 17. Trade and economic cooperation between the Czech Republic and Azerbaijan has great potential, Director for Energy Strategy and International Cooperation of the Czech Ministry of Industry and Trade Petr Binhack told Trend exclusively.
''In general, the priority sectors for the Czech Republic in Azerbaijan include energy, engineering, transportation infrastructure development, healthcare, agriculture, and the food industry,'' he noted.
According to Binhack, the Czech government supports Czech companies investing in Azerbaijan, seeing significant potential for mutual benefit in their participation in projects.
Among the promising projects, he cited renewable energy (RES) and technology projects.
"Azerbaijan has ambitious plans for RES development. Czech companies are very interested in participating in them, be it development, engineering, or production of technologies. These plans, driven by the development of Azerbaijan's energy sector, are very promising," Binhack emphasized.
He recalled that one of the Czech companies works at the hydroelectric power plant of Azerbaijan, and further cooperation between the Czech Republic and Azerbaijan in the field of energy has great potential.
"Cooperation on the development of solar power plants (SPPs) is also of interest to us. Azerbaijan has invited Czech companies to participate in an open tender for SES," Binhack said.
The representative of the Czech Ministry mentioned that it's crucial to develop renewables domestically and to share our lessons learned regarding the integration of renewables.
''This aspect represents a new field for cooperation, involving not only physical projects and technology transfer but also sharing best practices for managing energy transition. This includes integrating renewables, battery storage, and other flexibility options like hydro or power-to-gas into the energy sector,'' he added.
Binhack stated that the priority sectors for the Czech Republic in Azerbaijan include energy, engineering, transportation infrastructure development, healthcare, agriculture, and the food industry.
''The Center for Analysis and Coordination of the Fourth Industrial Revolution in Azerbaijan has shown significant interest in collaborating with Czech partners, particularly in knowledge transfer and the adoption of advanced technologies. I would argue that the technology sector is one of the most important sectors for the Czech Republic,'' he emphasized.
He said that recently, discussions between representatives of the Czech Institute of Informatics, Robotics, and Cybernetics and Azerbaijani institutions have highlighted potential projects in artificial intelligence, which is a very promising sector with potentially high returns.
"AI projects are very promising, with potentially high profitability. The Czech Republic is interested in their implementation," Binhaсk concluded.
In general, the prospects of cooperation between the Czech Republic and Azerbaijan are fruitful and promising.
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