Baku, Azerbaijan, Mar.3
By Azad Hasanli - Trend:
Azerbaijan is interested in establishing joint ventures on the export of agricultural products with the Czech Republic, the Minister of Economy and Industry of Azerbaijan Shahin Mustafayev said Mar.3 at the Azerbaijani-Czech business forum.
Some 32 Czech companies and banks are taking part in the business forum, organized by Azerbaijan Export and Investment Promotion Foundation (AZPROMO) operating under Azerbaijan's Economy and Industry Ministry.
On the Czech side, the business forum was organized by the Chamber for Economic Relations with Commonwealth of Independent States.
Shahin Mustafayev said the cooperation between the two countries is possible, using the Czech equipment for the food industry and the possibilities of Azerbaijani agriculture.
Azerbaijan and the Czech Republic have a good potential for the development of cooperation in economy, primarily in industrial sphere, according to Mustafayev.
"The Czech Republic has invested over $1 billion in Azerbaijan," he said. "At present, six major projects implemented in Azerbaijan are funded by Czech companies. Their total value is about $2 billion."
The minister said that it is very important that cooperation would not be limited only to Azerbaijan.
"The level of Azerbaijani companies allows them to work in European countries, including the Czech Republic," he said. "I think that our companies have every opportunity to strengthen their activities in the Czech Republic."
Mustafayev brought the experience of an Azerbaijani company dealing with road construction in Serbia as an example for the work of Azerbaijani companies in Europe.
The minister said the company doesn't lag behind local companies in Serbia, and what is more, it largely outruns them in terms of quality.
Mustafayev, at the same time, noted that countries can expand cooperation in tourism, ICT and other areas.
The bilateral trade turnover between the two countries reached 1.5 billion euros in 2014, or 23 percent more than in 2013.
Czech Republic mainly imports Azerbaijani oil, while industrial equipment and consumer goods are delivered from this country to Azerbaijan.