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Azerbaijan, Bulgaria to consider prospects for expanding cooperation

18 August 2016 18:43 (UTC+04:00)
Azerbaijan, Bulgaria to consider prospects for expanding cooperation

By Nigar Abbasova

The fourth meeting of Azerbaijan-Bulgaria intergovernmental commission for trade, economy, scientific and technical cooperation is planned to be held in September, 2016, Trend reported.

The top issues to be discussed during the meeting include exchange of opinions on strengthening of cooperation between the two countries, implementation of joint projects, expansion of commercial-economic ties and consideration of perspectives for cooperation in the spheres of energy, transport, culture and other priority areas.

The governmental delegation of Bulgaria will also include Bulgarian companies, engaged in different sphere of economy, and aimed to supply their production to Azerbaijan.

Bulgarian Deputy Prime Minister Tomislav Donchev earlier told Trend that there are a lot of perspective areas for bilateral cooperation between the countries. He added that Azerbaijan may become an important market for the supplies of Bulgarian production, particularly mechanical engineering and agricultural products.

Bulgaria is also interested in cooperation in the sphere of energy and is ready to act as a transit-state for the supplies of Azerbaijani gas to Europe.

The IGB project, (Gas Interconnector Greece-Bulgaria) is a gas pipeline, which will allow Bulgaria to receive Azerbaijani gas, in particular, the gas produced from Azerbaijan's Shah Deniz 2 gas and condensate field.

IGB is expected to be connected to the Trans Adriatic pipeline via which gas from the Shah Deniz field will be delivered to the European markets. The 180-km pipeline is to be built by a Bulgarian-Greek joint venture that also includes Italian energy group Edison SpA.

Azerbaijan and Bulgaria have developed friendly relations after Bulgaria recognized the independence of Azerbaijan in January 1992.

Diplomatic relations between the two countries were established in June 1992 and the embassy of Bulgaria in Azerbaijan was opened in December 1999.

Intergovernmental commission on commercial & economic and scientific technical cooperation between Azerbaijan and Bulgaria was established in 1995. Trade turnover between the countries amounted to $16.5 million in January-July 2016 as compared to the index of $6.6 million in the same period of 2015. The increase was triggered by the growth of import operation by 2.5 times.

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

Follow us on Twitter @AzerNewsAz

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