BAKU, Azerbaijan, January 23. Export-oriented manufacturing companies from Germany, including those from Bavaria, have been invited to consider investing in the Alat Free Economic Zone (AFEZ), the Azerbaijani Embassy in Germany told Trend.
The Embassy reported that this invitation was made during the German-Azerbaijani Economic Forum held in Munich under the theme "Exploring New Horizons: Investment and Cooperation in Azerbaijan for German Companies."
The forum, which took place on January 21, 2025, was jointly organized by the Azerbaijani Embassy in Germany and the Eastern Committee of the German Economy, with the support of the AFEZ authority and the Bavarian Economic Association. The event was also partnered with the Bavarian Economic Forum East-West (OstWestWirtschaftsForum Bayern).
“Bertram Brossardt, Chief Executive Officer of the vbw (Bavarian Business Association), emphasized the forum’s importance for further strengthening bilateral economic ties during his opening speech, attended by major Bavarian companies.
In his address, Azerbaijani Ambassador to Germany Nasimi Agayev detailed Azerbaijan’s growing economic potential, its role in the Middle Corridor, ongoing transport and transit projects, energy transition potential, and green energy, as well as the active presence of German companies in Azerbaijan.
He noted that Bavaria accounts for a significant portion of trade between Azerbaijan and Germany, with 177 Bavarian companies already having business ties with Azerbaijan. The ambassador urged Bavarian companies to take full advantage of the favorable business and investment climate in Azerbaijan.
Bavaria's European and International Affairs Minister Eric Beißwenger also highlighted the success of many Bavarian companies operating abroad and underscored the event's significance as a platform for expanding their operations in Azerbaijan.
Valeh Aleskerov, Chairman of the Alat AFEZ Authority, provided detailed information about the unique legislation, favorable geographical location, financial and non-financial incentives, available industrial land plots, and transport and logistics centers equipped with necessary infrastructure and engineering systems within the AFEZ. He invited export-oriented manufacturing companies from Germany, particularly Bavaria, to consider investing in AFEZ.
The event continued with a panel discussion titled "Strengthening Cooperation: Incentive Measures for Companies from Germany and Azerbaijan." The discussion featured prominent speakers, including Fariz Aliyev, a representative from Azerbaijan's Ministry of Digital Development and Transport; Rena Humbatova, Deputy Director of the State Agency for Renewable Energy under the Ministry of Energy of Azerbaijan; Orkhan Mammadov, Chairman of the Board of the Agency for Small and Medium Business Development; and Yusif Abdullayev, Executive Director of the Agency for the Promotion of Exports and Investments.
Participants were informed about Azerbaijan's strategic location at North-South and East-West transport hubs, regionally significant transport projects, energy potential, energy corridors, and government policies in these sectors, as well as the favorable business climate created for foreign investors and SMEs.
Particularly highlighted were the German companies’ significant opportunities for engaging in a wide range of economic projects underway in Azerbaijan.
The second panel session, ‘Success Stories: German Companies Growing in Azerbaijan,’ featured speakers from Falk Beratung [FALK group of companies], Commerzbank, Schneider Group, and Ecovis, discussing successful partnerships between German companies and Azerbaijan.
The Azerbaijani delegation visiting Munich also held meetings with Bavaria's State Minister for European and International Affairs Eric Beißwenger and the Ministry of Economics of Bavaria to discuss bilateral cooperation," the embassy statement said.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel