Azerbaijan invites Bavarian investors to Sumgait Chemical Industrial park
Baku, Azerbaijan, Nov. 28
By Abbas Akhundov - Trend:
Azerbaijan is inviting Bavarian companies to invest in Sumgait Chemical Industrial park, Deputy Head of Entrepreneurship Development Department at the country's Ministry of Economy and Industry Huseyn Pashayev said on Nov.28 at the third Azerbaijani-Bavarian business forum in Baku.
According to Pashayev, representatives of around 22 Bavarian companies who arrived in Baku consider the following sectors as important ones for Azerbaijan: construction, energy and the chemical industry, as well as food industry.
"A solid legal base has been created - around 29 intergovernmental documents have been signed - for cooperation between Azerbaijan and Germany," Pashayev said.
Head of Foreign Economy and Marketing at Bavarian State Ministry of Economic Affairs and Media, Energy and Technology Ulrike Wolf said that Bavaria plays an important role in Azerbaijani-German relations.
According to Wolf, around 36 percent of German companies operating in Azerbaijan represent Bavaria and nearly one third of Azerbaijani companies in Germany operate in Bavaria.
The business forum is being held with the arrangement of Bayern International Gmbh, German-Azerbaijani Chamber of Commerce and Azerbaijan Export and Investment Promotion Foundation (AZPROMO).