The Azerbaijan Fund for Promotion of Export and Investments (AZPROMO) will continue supporting the Azerbaijani producers in search of partners in Germany. Emil Majidov, the President of AZPROMO stated that they have scheduled a visit to Stuttgart on 11-12 December. We will promote the joint ventures and some 20 Azerbaijani companies have been selected in this respect. Stuttgart is mainly specialized in production of machinery, Mr. Majidov noted.
In accordance with the review, developed under the program of European Union's TACIS program jointly with AZPROMO, some 44% of major administrators of joint ventures described their enterprise as very successful'. The statement was made at a presentation on the topic How to become a partner in a joint venture by an experts of the Czech National Agency for Attraction of Investment, Robert Heizak.
The main cause of failures in Joint Ventures is the difference in cultures (49%), ineffective or ambiguous management (49%), lack of integration (46%), he said.
Heizak encouraged cultures to unity as a means to successful business development where further contacts with partners can be established through Russia, Turkey, or the Azerbaijani Diaspora abroad. AZPROMO would assist in the search of partners, advertise company information, provide expert support as well as setting up a committee for the Joint Ventures.