Azernews.Az

BAKU – An Azerbaijani-Lithuanian business forum held in Baku on Wednesday drew 80 entrepreneurs working in a slew of fields including energy, ICT, agriculture and the construction sector.

Azerbaijani Parliament Speaker Ogtay Asadov said in his remarks that the two countries have vast potential to boost their cooperation in the non-oil sector.

"I am confident that the discussions held at the business forum will allow in the future to establish joint ventures, mutually make investments, increase bilateral trade turnover and develop cooperation in a number of fields of the economy," Asadov said.

Chairperson of the Lithuanian parliament Irena Degutienes said the business forum will deepen relations between the two countries and pave the way for expanding Lithuanian business in Azerbaijan. Degutienes noted that bilateral trade has risen 30 percent in the past two years, but there are broad opportunities to further increase the figure.

Azerbaijan-Lithuania trade turnover is around $30 million, according to Lithuanian official estimates.

Degutienes said her country has extensive experience in the fields of information technologies, environmental protection, renewable energy and the food industry, and is ready to share it with Azerbaijan.

In conclusion of the business forum, a memorandum on cooperation was signed between the two countries’ business associations.