Economy Ministry, Japanese NEXI ink MoU on cooperation
By Ayya Lmahamad
Azerbaijan’s Economy Ministry and Japanese company Nippon Export and Investment Insurance (NEXI) have signed a memorandum of understanding on general cooperation, the ministry reported on April 20.
The document was signed by Economy Minister Mikayil Jabbarov and NEXI Chairman and CEO Atsuo Kuroda.
The memorandum provides for discussions between Azerbaijan and Japan on exchange of experience in the field of export credits and investment insurance. In addition, the two sides will exchange information on local and neighbouring markets and conduct joint trainings.
Jabbarov said that mutual trust between the two countries has created favorable conditions for the activities of Japanese companies in Azerbaijan and cooperation in the investments field.
He noted that Japan is one of the main investors in Azerbaijan’s economy.
The successful partnership between the ministry and NEXI offers vast opportunities to increase mutual exports and expand cooperation in investment and export insurance. In addition, the memorandum signed will stimulate new areas of partnership and investment.
During the meeting, Jabbarov spoke about reforms done in Azerbaijan to improve the business and investment climate, increase production and export potential.
It was noted that in order to ensure Azerbaijan's place among the leading countries in the digital era, the state legal entity "Center for Analysis and Coordination of the Fourth Industrial Revolution" was established under the economy ministry and Azerbaijan joined the network of centers of the 4th industrial revolution. The creation of this center in Azerbaijan will give impetus to the development of the digital ecosystem and the rapid application of technologies of the 4th industrial revolution.
Highlighting Azerbaijan’s victory in the Second Karabakh War and the liberation of its territories, the minister noted that a concept has been prepared for the reconstruction and development of those territories. He added that the concept provides for extensive use of public-private partnership, special programs to encourage foreign investors and the attraction of foreign companies.
The minister emphasized that Azerbaijan’s liberated territories are not only rich in natural resources, but also have special importance in terms of industry, agriculture, tourism etc.
Jabbarov called on Japanese companies to take advantage of the opportunities reflected in the signed memorandum and invest in Azerbaijan’s non-oil sector.
Speaking at the event, NEXI Chairman and CEO Atsuo Kuroda stressed the importance of the signed memorandum in terms of expanding Azerbaijani-Japanese trade and investment cooperation.
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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad
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