Azerbaijan keen for investment co-op with Estonia (PHOTO) (UPDATE)

Business Materials 7 April 2017 16:38 (UTC +04:00)

Details added (first version posted at 12:22)

Baku, Azerbaijan, Apr. 7

By Anvar Mammadov – Trend:

Azerbaijan is interested in investment cooperation with Estonia, said Rufat Mammadov, head of the Azerbaijan Export and Investments Promotion Foundation (AZPROMO).

He was addressing an Azerbaijan-Estonia business forum in Baku April 7.

"We are very interested in the presence of Azerbaijani goods in the Estonian market,” Mammadov said.

“We are also very interested in investment cooperation with Estonia. We invite Estonian companies to take advantage of this business forum and expand ties with Azerbaijani enterprises.”

Currently, the volume of mutual investments is at a very low level, according to the AZPROMO head.

“At present, the volume of Azerbaijani investments to Estonia is about $300,000-400,000. In turn, Estonia invested about $1 million in Azerbaijan's economy. This is a very low indicator,” Mammadov said.

He also noted that the Azerbaijan-Estonia trade turnover does not reflect the existing potential of the bilateral relations.

“Last year, trade turnover between our countries was slightly more than $3 million. This is an unsatisfactory indicator as there is great potential between our countries to expand trade relations.”

Trade turnover between Azerbaijan and Estonia amounted to $541,130 in January-February 2017, which is 2.2 times more than in the same period of 2016, according to Azerbaijan’s State Customs Committee.