Azerbaijan, Lithuania have broad potential for investment cooperation

Photo: Azerbaijan, Lithuania have broad potential for investment cooperation / Economy news

Baku, Azerbaijan, April 5

Lithuania and Azerbaijan have great potential for investments and cooperation in other areas of the economy, according to the Lithuanian ministry of Economy Evaldas Gustas.

Gustas held a meeting with the Azerbaijani Minister of Economy and Industry Shahin Mustafayev where he noted Lithuania's interest in the development of the economic relations with Azerbaijan, the Azerbaijani Ministry of Economy and Industry reported on April 5.

Informing about the current situation of the Lithuanian economy and investment opportunities of the country, Gustas invited the Azerbaijani minister, as well as Azerbaijani scientists to the forum-exhibition on the natural sciences which will be held in Lithuania in September.

Recently, Baku also hosted Azerbaijani-Lithuanian business meeting with the support of the Ministry of Economy and Industry and organized by the Azerbaijani Export and Investment Promotion Foundation (AZPROMO).

The head of AZPROMO Rufat Mammadov stressed wide range of opportunities for mutual investment and enhancement of cooperation in the field of construction, agriculture, ICT, renewable energy, tourism at the meeting, and invited businessmen to active cooperation.

Lithuanian Minister, in turn said that conduction of such meetings plays an important role in the expansion of ties between entrepreneurs.

AZPROMO expressed willingness to provide appropriate support for the organization of business activities in the country.

The foreign trade turnover between the two countries amounted to $21.788 million by the end of 2013, which is 9.2 percent less than in 2012, according to the State Customs Committee of Azerbaijan.

Translated by S.I.

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