Azernews.Az

By Ayya Lmahamad

Economy Minister Mikayil Jabbarov has said that Czech companies have the potential to participate in smart city and smart village projects in Azerbaijan.

He made the remarks at the meeting with a delegation led by Czech Foreign Minister Jakub Kulhanek on October 1.

During the meeting, the minister noted that Azerbaijan attaches great importance to relations with the Czech Republic, mutual visits, and the development of cooperation between the countries.

He stated that the commission on economic, scientific, technical, and cultural cooperation established between the Azerbaijani and Czech governments is one of the drivers of strengthening relations.

“The Baku office of CzechTrade continues to develop trade and economic relations between our countries. In addition, we have great opportunities for expanding cooperation in the areas of trade, industry, transport and transit and tourism,” Jabbarov said.

He also reported on the favorable business and investment climate, the reconstruction in the liberated lands, the Zangazur corridor and the Alat Free Economic Zone. He invited Czech companies to actively cooperate with Azerbaijani counterparts.

In turn, the Czech foreign minister stressed the importance of expanding the strategic partnership and shared his views on the directions of expanding ties.

The parties also discussed the activities of the Intergovernmental Commission, development of trade cooperation and partnership in investment projects.

The Czech minister paid an official visit to Azerbaijan on September 30.

Azerbaijan and the Czech Republic cooperate in different spheres of the economy. Around 30 companies with the Czech capital operating in Azerbaijan. The Czech Republic had invested $37.2 million in Azerbaijan, while Azerbaijan’s investment in the Czech Republic amounted to $48.2 million during the period of 1995-2021.

It should be noted that the trade turnover between Azerbaijan and the Czech Republic amounted to $90.6 million in the first eight months of 2021.

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

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