Azerbaijan, Czech Republic discuss expanding economic ties

Azerbaijan is making an important contribution to ensuring the Czech Republic's energy security, Azerbaijani Economy Minister Mikayil Jabbarov said at the Azerbaijan-Czechia Business Forum.

Report informs, citing the Economy Ministry, that Jabbarov stressed that economic relations between Azerbaijan and the Czech Republic are developing on the basis of mutual trust and shared priorities. He noted that the Joint Commission on Economic, Scientific-Technical and Cultural Cooperation with the Czech Republic serves as an effective institutional mechanism in strengthening the partnership.

The minister said the Czech Republic is one of Azerbaijan's main trade and export partners. At the same time, he noted that diversifying trade is among the key priorities of the economic partnership. He highlighted broad prospects for expanding joint activities with the Czech Republic in industry, trade, investment, energy, including green energy, transport and logistics, and other areas.

He also stressed Azerbaijan's economic potential, favorable business environment, investment platforms supporting trade, production and logistics, as well as opportunities created for investors in the Karabakh and East Zangazur economic regions.

The forum, held with the support of the Economy Ministry of Azerbaijan and the Ministry of Industry and Trade of the Czech Republic and jointly organized by the Export and Investment Promotion Agency – AZPROMO and the Confederation of Industry of the Czech Republic, brought together government officials from both countries, as well as representatives of companies operating in trade, energy, industry, construction, finance, transport and logistics, ICT and services.

Karel Havlíček, First Deputy Prime Minister and Minister of Industry and Trade of the Czech Republic, said there are broad opportunities to strengthen the economic partnership between Azerbaijan and the Czech Republic. He emphasized the importance of the business forum and similar events in developing cooperation and shared his views on areas for expanding joint activity.

AZPROMO Executive Director Yusif Abdullayev delivered a presentation on Azerbaijan's investment potential and economic opportunities.

Jan Rafaj, President of the Confederation of Industry of the Czech Republic, stressed the importance of expanding ties between business circles and spoke about cooperation mechanisms and new partnership opportunities.

An exchange ceremony of documents signed within the forum was also held. Cooperation memorandums were exchanged between AZPROMO and Frýdlantské Strojírny – TR s.r.o., and between the Czech-Moravian Association of Women Entrepreneurs and the Association for the Development of Women Entrepreneurship in Azerbaijan.

Memorandums of understanding were also exchanged between AZPROMO and the Confederation of Industry of the Czech Republic, Sumgayit Technologies Park and Škoda Transportation, and BCC Group CJSC Azerbaijan and WITKOWITZ, A.S., RADIS D.O.O.

The documents cover support for entrepreneurship development, expansion of business activity, and promotion of cooperation in areas such as industry, infrastructure and transport. The exchanged documents will contribute to strengthening and diversifying the Azerbaijan-Czech economic partnership.

B2B and B2G meetings were also held during the event.