Azernews.Az

By Nigar Abbasova

The fourth meeting of Azerbaijan-Bulgaria Intergovernmental Commission for trade, economy, scientific and technical cooperation opened in Baku on September 29 and focused on strengthening of cooperation, implementation of joint projects, and expansion of commercial-economic ties between the two countries.

As part of the meeting, Baku also hosted the business forum, which was organized with the support of Azerbaijan’s Economy Ministry and Azerbaijan Export and Investments Promotion Foundation (AZPROMO).

Some 35 Bulgarian companies engaged in agriculture and food industry, metallurgy, engineering, transportation, cosmetic products and energy attended the forum. In the course of the forum, the two countries signed four MoU’s that covered cooperation in different spheres.

Bulgarian Economy Minister Bojidar Lоukarsky, addressing the forum, said Bulgaria is interested in exporting a wide range of products to Azerbaijan. The minister mentioned pharmaceutical products and medical equipment, clothing, food and other agricultural products, building materials, etc.

Bulgarian Deputy Energy Minister Zhecho Stankov, in turn, said Bulgaria has an interest in the implementation of the Southern Gas Corridor project, designed to transport Azerbaijani gas to Europe.

Zhecho also mentioned that the two countries are considering different ways of cooperation, including supplies of Azerbaijani gas through the territory of Bulgaria to the third countries.

“Bulgaria considers Azerbaijan as a main potential source of gas for the Balkan gas hub project”, he said.

The interest of Bulgaria in Azerbaijan is connected with the intention of the country to become main gas transit country for South Eastern and Central Europe. Interconnector Greece-Bulgaria (IGB), which is expected to be connected to the Trans-Adriatic Pipeline (a part of the Southern Gas Corridor) will allow Bulgaria to receive Azerbaijani gas, mostly from the second stage of development of Azerbaijan’s Shah Deniz gas and condensate field.

Azerbaijan’s Deputy Economy Minister Sahil Babayev, for his part, offered Bulgarian companies to establish joint ventures to export the products to third countries, mentioning that favorable business and investment conditions have been created in the country.

The issue of the ongoing Nagorno-Karabakh conflict between Armenia and Azerbaijan was also touched upon during the meeting of the intergovernmental commission.

Minister of Transport Ziya Mammadov, said Azerbaijan appreciates Bulgaria’s constructive stance regarding prevention of any unlawful acts, including attraction of the Bulgarian capital and resources to occupied territories of Azerbaijan.

“This year, the Foreign Ministry of Azerbaijan has submitted a report on the illegal economic and other activities in the occupied territories of Azerbaijan to the international community,” the minister said.

“In accordance with the evidence presented, Armenia illegally exports natural resources from the occupied territories. Armenia plays the role of a transit point, from where products manufactured in the occupied territories of Azerbaijan, as well as mineral resources are exported to international markets.”

Regarding economic cooperation, Mammadov said that Azerbaijan and Bulgaria have the necessary legal basis for mutually beneficial bilateral cooperation.

“For 5 years the trade turnover between the countries amounted to about $1 billion,” the minister said. “In 2015, the trade turnover amounted to $15 million, which is below the existing potential.”

Mammadov noted the need to carry out work in order to improve this indicator. He said that currently Azerbaijan actively cooperates with Bulgaria at different levels. The further expansion of cooperation will serve the interests of both countries, he added.

The intergovernmental commission on commercial & economic and scientific technical cooperation between Azerbaijan and Bulgaria was established in 1995.

The 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

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