Azernews.Az

By Aynur Jafarova

Azerbaijani Minister of Economic Development Shahin Mustafayev said at the Azerbaijan-Slovenia business forum in Baku on Wednesday that there are great opportunities for mutual investments between the two countries, Trend news agency reported.

"Azerbaijan attaches great importance to the development of cooperation with European countries, including Slovenia. Currently, political relations are at a high level and are based on the principles of friendship and mutual interests," Mustafayev added.

Mustafayev said that ten documents have been signed by the two countries to date.

The minister said further, "Work on expansion and diversification of bilateral trade is underway. Political and macroeconomic stability in Azerbaijan, stable economic growth and favorable business environment provide broad opportunities for expansion of trade relations between the entrepreneurs of both countries."

Slovenian Prime Minister Janez Jansa, in turn, said both countries have great economic potential.

"Efficient use of the existing potential and expansion of relations between the entrepreneurs of the two countries play an important role in the development of trade and economic relations between Azerbaijan and Slovenia," Jansa said.

As part of the business forum a memorandum of understanding on cooperation between the Slovenian State Agency for Entrepreneurship, Innovation, Development, Investment and Tourism (SPIRIT) and Azerbaijan Export and Investment Promotion Foundation (AZPROMO) was signed by AZPROMO head Rufat Mammadov and SPIRIT acting director Boshtian Skalar.

MoUs were also signed between the Baku State University and the University of Ljubljana, Azerbaijan Technical University and the Slovenian company Iskratel, Oguz region executive authorities and the Slovenian town of Nova Gorica, Azerbaijani company Azerinshaatservis and Slovenian company DUOL.

The business forum, which was organized by AZPROMO, takes place as part of the Slovenian PM's visit to Azerbaijan. Along with officials, participants include entrepreneurs working in the fields of industry, energy, tourism, health, education and consulting services.

Azerbaijan exports to Slovenia diesel fuel while imports child food, organic plastics, textiles, electrical equipment, etc.

According to Azerbaijan's State Customs Committee, Azerbaijani-Slovenian trade turnover exceeded $4.14 million in January-September 2012 compared to $6.89 million in the same period of 2011.