Azernews.Az

By Aynur Jafarova

Azerbaijan's embassy in Spain has initiated the establishment of a joint chamber of commerce, the diplomatic mission told the Baku-based Trend news agency on October 1.

The initiative was put forward in response to the great interest of Spanish companies in Azerbaijan's market, numerous appeals of Spanish companies to the embassy, benefits from the high technology and know-how of Spain, beneficial investment projects in Spain and other factors.

The responsibilities of the chamber will include increasing the trade turnover between the two countries, attracting Spanish companies to Azerbaijan, taking Azerbaijani goods to the Spanish market, the implementation of mutual business forums, trade and investment missions and other events, which will contribute to the development of bilateral cooperation.

Representatives of the chamber will be able to continuously receive information about the economy of Azerbaijan and Spain and business opportunities, take advantage of the expanded contact base to find business partners in a short time, acquire the latest information about tenders, projects and exhibitions, and receive consultations on legal and taxation requirements and other issues.

The embassy is receiving applications from Spanish companies for membership in the chamber.

The main focus is on the determination of companies which will be the founders of the chamber. Currently, six Spanish companies intend to be involved in its establishment. The companies will soon be shortlisted.

Spain recognized Azerbaijan's independence in December 1991. Diplomatic relations were established in February 1992.

The trade turnover between the two countries amounted to about $158.4 million in 2012.