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Azerbaijan, Montenegro to hold business forum in March

20 February 2014 15:53 (UTC+04:00)
Azerbaijan, Montenegro to hold business forum in March

By Nigar Orujova

The Azerbaijani-Montenegrin Business Forum will be held in Montenegro on March 5.

The Azerbaijani Fund Export and Investment Promotion (AZPROMO) confirmed the news adding that:" The event, co-organized by AZPROMO and the Ministry of Economy and Industry of Azerbaijan, will be held during the visit of the Azerbaijani delegation to Montenegro on March 4-7."

The trade turnover between the two countries amounted to $11,850 in 2013. Azerbaijan exported $11,460 worth of goods to Montenegro, and imported $ 390, according to the Azerbaijan State Customs Committee.

Although the amount of export-import between the two countries stand at a low level, Montenegro is considered one of the most promising markets for Azerbaijani productions.

Montenegro opened Honorary Consulate in Azerbaijan on December 4 last year, which also contributes to the development of friendly relations.

Earlier in January, the Civil Service Commission under the Azerbaijan President and the Montenegro Human Resources Management Authority signed an action plan on cooperation for 2014-2015.

About 1,500 tourists from Azerbaijan visited Montenegro last year. Also Azerbaijan is investing in the construction of a tourist complex in Montenegro on the shores of the Bay of Kotor.

The total investment will amount to 500 million euros. Azerbaijan State Oil Company, which won the tender, established "Azmont Investments" for this project. The complex will include a network of resort "One & Only", known for its orientation towards affluent customers.

Moreover, in accordance with the Memorandum of Understanding on the future supply of Azerbaijani gas to Albania, Croatia and Montenegro, there are plans to construct a gas pipeline corridor passing through the Trans-Adriatic gas corridor that will allow the delivery of gas from Azerbaijan to Montenegro.

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