Azernews.Az

By Nigar Abbasova

Raiffeisen Bank and some commercial banks of the Czech Republic consider possibility of financing deals on supplies of Czech technologies and equipment to Azerbaijan.

Milos Vecera, Head of Raiffeisen Bank’s Division on Trade Finance, Cash Management and Factoring told Trend that the Bank is looking for export finance transaction deals on Czech technologies and equipment, for example in construction works, waste-management that could be supplied to Azerbaijan with an export credit from one of the commercial banks.

He mentioned that the credit could be preferably ensured by EGAP (Czech Export Credit Agency), which have already ensured transactions of Czech commercial and Czech export bank worth hundreds of millions of euros.

Vecera went on saying that the most attractive spheres of Azerbaijani economy are oil and gas industry, processing of crude products, transportation and other sectors that are deemed to be strategically important for the country.

The commodity structure of the Czech export to Azerbaijan comprises cars and trucks and their spare parts, construction material, machinery and industrial equipment, detergents, a range of pharmaceutical products and cosmetics, as well as the Bohemian glass and crystal products like chandeliers.

Baku earlier hosted Azerbaijan-Czech business forum, which brought together Azerbaijani officials and a large Czech delegation including about 170 businessmen, engaged in agriculture, food industry, finance, insurance, energy, logistics, construction, law, petrochemical industry, mechanical engineering, glass production and other sectors of the economy.

So far, Czech companies have invested some $1.3 billion in Azerbaijan's main capital.

--

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

Follow us on Twitter @AzerNewsAz