BAKU, Azerbaijan, March 11. The Azerbaijan-Spain Business Forum has officially started in Baku, Trend reports.
Top officials are attending the event, including Yusif Abdullayev, Executive Director of the Azerbaijani Export and Investment Promotion Agency (AZPROMO), Inmaculada Riera, CEO of the Spanish Chamber of Commerce, Orkhan Mammadov, Chairman of the Board of the Small and Medium Business Development Agency, Ramiz Hasanov, Azerbaijan's Ambassador to Spain, and Elnur Aliyev, First Deputy Minister of Economy, among others.
Addressing forum participants, Elnur Aliyev, Azerbaijan's First Deputy Minister of Economy, pointed out that Azerbaijan is actively collaborating with international partners to increase the share of green energy in its electricity production. "We are satisfied with the active participation of Spanish companies in these projects. Additionally, Eastern Zangezur and the Nakhchivan Autonomous Republic have significant potential in the renewable energy sector and are designated as green energy zones," he said.
Yusif Abdullayev, Executive Director of the Azerbaijan Export and Investment Promotion Agency (AZPROMO), noted that Azerbaijan's growing exports and investments in non-oil and gas products to Spain continue to be a key priority for the country. According to Abdullayev, in 2022, Azerbaijan’s exports to Spain exceeded $1 billion, with total turnover reaching approximately $1.1 billion. However, he pointed out that this figure has been gradually decreasing.
In turn, María Amparo López Senovilla, Secretary of State for Trade at Spain's Ministry of Economy, Trade, and Business, announced that Azerbaijan and Spain are set to sign a memorandum of understanding that will serve as a foundation for enhancing bilateral cooperation. "This memorandum was the missing piece in forming a comprehensive partnership. Its signing will act as a catalyst for increasing capital flows, creating new business initiatives, and developing a strategic alliance between our countries," she said.
Further speaking, Marta Blanco, President of the International Relations Committee of the Confederation of Business Organizations (CEOE), added that Azerbaijan continues to strengthen its role on the international stage, offering numerous opportunities for foreign companies, including those from Spain. "Azerbaijan has a strategic location that serves as a natural bridge between Europe and Asia. Another important factor is the political and economic stability, active investments in infrastructure, and the ongoing transformation of the economy," she stated.
