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Czech Republic eyes expansion of economic co-op with Azerbaijan

Economy Materials 27 August 2015 16:34 (UTC +04:00)
The Czech Republic will present new economic cooperation proposals to Azerbaijan
Czech Republic eyes expansion of economic co-op with Azerbaijan

Baku, Azerbaijan, Aug. 27

By Seba Aghayeva - Trend:

The Czech Republic will present new economic cooperation proposals to Azerbaijan, Azerbaijani ambassador to the Czech Republic Farid Shafiyev told Trend Aug. 27.

"The country's government pins great hopes for increasing the number of the Czech companies in such areas of Azerbaijan as agriculture, construction, transport infrastructure and others," he said.

"The cooperation prospects between the two countries will be discussed during Czech President Milos Zeman's official visit to Azerbaijan, scheduled for September 14-15," the diplomat said.

During the visit the president will be accompanied by a delegation of some 60 representatives of business circles. This testifies to the country's interest in developing the cooperation with Azerbaijan.

Shafiyev said that the Czech businessmen will meet with their Azerbaijani counterparts. The Czech companies have a number of projects that they will present to his Azerbaijani colleagues during these meetings.

The governments of the two countries currently continue to work on projects of bilateral documents to be signed during the visit as well, said the ambassador.

Czech companies are already present in Azerbaijan and implement contracts worth about $1 billion, the diplomat said earlier. Implementation of one contract for the construction of Baku-Guba highway worth $300 million has been completed, according to him.

The ambassador went on to add that the Czech Republic is also open for Azerbaijani investments.

Over the last 10 years, foreign companies, including the Azerbaijani ones, have showed interest for real estate in the Czech Republic, particularly in Karlovy Vary spa town, he said.

The forthcoming visit of the Czech president to Azerbaijan will give an additional impetus to relations between the two countries, the ambassador said.

In January-July 2015, the trade turnover between the two countries amounted to $440.93 million, according to the State Customs Committee (SCC) of Azerbaijan.

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