First Azerbaijani-Bulgarian Forum to take place in Sophia

Business Materials 27 September 2008 16:27 (UTC +04:00)

Azerbaijan, Baku, 27 September / corr. Trend I.Khalilova / The Azerbaijani governmental delegation, headed by the vice-premier Abid Sharifov is leaving for Sophia to participate in the first session of Azerbaijani-Bulgarian Intergovernmental Commission for trade economical and scientific technical cooperation and business forum, the government informed. The events will take place on 29-30 September.  

(The Intergovernmental Commission between the countries was established in May 1999 and two sessions have been held, so far. However, after Bulgaria's entrance to EU on 1 January 2007, the agreement on joint commission became inefficient).

At the forthcoming session the commission will be represented in a new staff. During the visit of the Bulgarian prime-minister Sergey Stanishev to Baku in 2007 the Bulgarian side offered to hold business forums, presentations and international exhibitions between the business circles of two countries in order to develop cooperation.

During the visit to Bulgaria Azerbaijani delegation will attend the international technical exhibition taken place in Plovdiv on 29 September, according to the Azerbaijani Fund of Export and Investments Encouragement (AZPROMO).  The first Azerbaijani-Bulgarian Business Forum will take place on 30 September, Azerbaijani companies, specialized in building and development of tourism business, food industry and energy will participate in it. The representatives of Azerbaijani Investment Company will also be included in the delegation.

Understanding that both countries are experiencing the intensive period of economical development, Sophia and Baku support the intensification of the Intergovernmental Commission's work. Three documents have been signed last year for transfer to the new stage of economical cooperation - agreements on economical cooperation, interaction in antimonopoly policy and competition, and the Convention about avoidance of double taxation. Now it is the most appropriate moment to implement projects, because both countries are demonstrating high growth rate of economical development and Bulgaria's entrance to EU serves as a base for this.

The commodity turnover between Azerbaijan and Bulgaria comprised $21.8mln as of 2006, and $15.9 as of 2007. In January to July the trade relations between two countries were in the amount of $51.9mln (import was $7.1mln. and export - $44.8mln). In 2008 the commodity turnover began to increase and approach the volumes of 2004-2005. The total commodity turnover for whole 2004 was $54.9mln. (import was $5.6mln, export was $49.3mln.), for 2005 - $105.4mln. ($4.6mln. and $100.9mln respectively).    

The correspondent can be contacted at [email protected]