Moldova interested in investment cooperation with Azerbaijan: Foreign Minister (Exclusive)

Baku, Azerbaijan, March 14

By Gulgiz Muradova - Trend:

Moldovan companies interested in investing in Azerbaijan's economy, Moldovan Minister of Foreign Affairs and European Integration Tudor Ulianovschi said in an interview with Trend.

The minister noted that there are favorable incentives for certain investment of Moldovan companies in the Azerbaijani economy.

"According to the economic experts, there are favorable incentives for certain investment of Moldovan companies in the Azerbaijani economy, including through the existing and new joint enterprises, by sharing expertise and participating in the development of such economic sectors as agriculture, including viticulture and winemaking production, food processing and farming equipment production, green-house construction, as well as wood processing, furniture and carpet manufacturing," he said.

Ulianovschi stressed that presently, more than one hundred joint enterprises with a capital of around $2 million are operating in Azerbaijan and Moldova. Still, according to him, the potential for investment is much higher, especially since both countries provide an excellent environment for that.

"It seems that at this stage business communities from both countries are still to identify sources and conditions for investment, and consequently assisting them in this process remains one of the most important tasks of the relevant governmental institutions from both countries," the minister said.

Ulianovschi further added that Moldova is also interested in attracting investments in many sectors of the economy.

"Having a wide range of investment opportunities, Moldova is one of the most attractive destinations for direct foreign investments. Presently, the main reasons to invest in our country are political stability, economic growth and a very friendly and non-discriminatory investment environment, including freedom of investment, transparency, guarantees of investor rights and against loss, as well as resolution of disputes and other rights. In addition, great opportunities for foreign investments are offered by the 7 free economic zones with 11 sub-zones and 10 industrial parks operating in Moldova. As for main fields of investment; they are agriculture, automotive, textile, renewable energy, transportation, ICT and medicine. We confirm our interest in further promoting and supporting investment projects of economic entities of the two countries and given the existence of a favorable investment climate and attractive conditions for business development in the Republic of Moldova we are interested in the participation of potential Azerbaijani partners in the activities of the Free Economic Zones and Industrial Parks," the minister said.

New opportunities for investment in these and other sectors of the Moldovan economy are also offered by the Association Agreement and the Deep and Comprehensive Free Trade Agreement (DCFTA) signed by the Republic of Moldova with the European Union, according to the minister.

Ulianovschi voiced belief that the free trade regime between Moldova and the EU provides all the necessary conditions for attracting investments of Azerbaijani companies, such as from the processing sector of Azerbaijani raw materials and manufacturing goods for export to the EU markets.

"We hope that the development of the Moldovan-Azerbaijani relations in the economic, trade and investment areas will be significantly boosted as a result of holding, in the near future, the 4th meeting of the Intergovernmental Moldovan-Azerbaijani Commission for Trade and Economic Cooperation (IPC) and organizing a business forum within its framework," the minister noted.

According to the Azerbaijani State Customs Committee, the trade turnover with Moldova in January-February 2018 amounted to $1.17 million, which is 12.5 percent more than the same period of 2017.

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Follow the author on Twitter: @GulgizD

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