Azerbaijan invites Czech companies to set up joint ventures in agriculture & energy (UPDATE)
Details added (first version posted on 16:48)
Baku, Azerbaijan, May 16
By Matanat Nasibova - Trend:
Azerbaijan is inviting Czech companies to create joint ventures in the fields of agriculture, industry and energy, Azerbaijan’s Deputy Economy Minister Rufat Mammadov said at the Azerbaijani-Czech Business Forum in Baku on May 16, Trend reports.
“There are great opportunities for creating joint ventures between the countries,” the Deputy Minister added.
Mammadov noted that 26 companies with Czech capital operate in Azerbaijan. Companies from the Czech Republic invested $33.5 million in Azerbaijan’s economy, while Azerbaijani investments in the Czech Republic amounted to $50 million.
“Czech companies took part in the implementation of projects worth a total of $2.8 billion in Azerbaijan,” he said. “More than 30 documents were signed between our countries in various areas, including investment promotion, avoidance of double taxation, and in various segments of trade and economy.”
The volume of trade between the countries exceeded $1 billion in 2018, which is 57 percent more than in 2017, he added. The Deputy Minister noted that more than 88 percent of trade of the Czech Republic with the countries of the South Caucasus accounts for Azerbaijan.
Mammadov noted that Azerbaijan considers the Czech Republic as one of the most promising partners in Europe and expects further expansion and strengthening of relations in many areas of bilateral cooperation.