Azerbaijan's AZPROMO, Enterprise Greece sign memorandum of understanding

Economy Materials 14 June 2024 10:01 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, June 14. Azerbaijan Export and Investment Promotion Agency (AZPROMO) and Enterprise Greece have signed a memorandum of understanding, Trend reports.

According to AZPROMO, the memorandum of understanding provides for the enhancement of joint activities in the areas of export and investment, the promotion of investment opportunities in both countries, and the encouragement of business cooperation between the business communities of the countries.

The agency pointed out that the document was signed during the 5th session of the Joint Commission on Economic, Industrial, and Technological Cooperation between the Azerbaijani and Greek governments, held in Baku.

The document was signed by the AZPROMO Executive Director Yusif Abdullayev and the Deputy Foreign Minister of Greece, Co-Chairman of the Intergovernmental Commission Konstantinos Fragogiannis.

To note, data of the State Customs Committee of Azerbaijan showed that trade turnover between the two countries from January through May of this year reached $330.08 million. Exports accounted for $306.43 million, while imports accounted for $23.65 million.

AZPROMO was established in 2003 to attract foreign investments in the non-oil sector and stimulate exports of non-oil products.

The agency's current activities include planning a number of global conferences with the aim of advancing Azerbaijan's non-oil sector, advertising goods to international consumers, educating overseas buyers about Azerbaijani goods, connecting them with local businesses, and assisting international businesses in gaining a better understanding of Azerbaijan's investment climate and its'single window' system for potential investments.

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