Azernews.Az

By Ayya Lmahamad

Azerbaijan is interested in cooperation with Germany on renewable energy and oil and gas field, chairman of board of Azerbaijan’s Energy Regulatory Agency Samir Axundov has said, the agency’s press service reported on February 23.

Addressing an online meeting held between the agency, the Azerbaijani Energy Ministry, and the German-Azerbaijani Chamber of Commerce, Axundov said that Azerbaijan carries out significant work on the development of energy regulation. He briefed the participants on the existing and planned important project in the field of renewable energy, oil and gas.

In turn, Chamber of Commerce’s Executive Director Tobias Baumann briefed on the main conditions for creating a business and investment climate in Azerbaijan, and cultural ties between the two countries.

Additionally, representatives of German oil and gas companies informed about their products and services, development and recent trends, tenders and opportunities for cooperation.

The meeting was also attended by a delegation from the German Economy and Energy Ministries and representatives of German companies operating in the oil and gas sector.

It should be noted that the trade turnover between Azerbaijan and Germany amounted to $817.5 million in 2020. Of the total turnover, the export of Azerbaijani products to Germany amounted to $234.1 million, while import to $583.4 million. In addition, trade turnover between the two countries amounted to $92.8 million in January 2021.

The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan), as the official representative of the German economy in Azerbaijan, provides information services and supports companies in their market and business research since 2012. The AHK Azerbaijan emerged from the German-Azerbaijan Business Association (DAWF) founded in 1999. With more than 140 member companies (as of April 2020), the AHK Azerbaijan is the most powerful European economic association in Azerbaijan.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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