Azernews.Az

By Aynur Jafarova

Lithuania and Azerbaijan have great potential for bilateral investments and cooperation in other areas of the economy, Lithuanian Economy Minister Evaldas Gustas said.

Gustas held a meeting with Azerbaijani Economy and Industry Minister Shahin Mustafayev. "During the meeting, he expressed Lithuania's interest in the development of the economic relations with Azerbaijan," the Azerbaijani ministry reported on April 5.

Touching upon the current situation of the Lithuanian economy and investment opportunities of the country, Gustas invited the Azerbaijani minister, as well as Azerbaijani scientists to a forum-exhibition on the natural sciences which will be held in Lithuania in September.

Recently, Baku also hosted an Azerbaijani-Lithuanian business meeting with the support of the Ministry of Economy and Industry. It was organized by the Azerbaijani Export and Investment Promotion Foundation (AZPROMO).

AZPROMO head Rufat Mammadov referred to the wide-range of opportunities for mutual investment and enhancement of cooperation in the fields of construction, agriculture, ICT, renewable energy, tourism and invited businessmen to get more involved in the mentioned fields.

Lithuanian minister, in turn said that holding of such meetings plays an important role in the expansion of ties between entrepreneurs.

AZPROMO expressed willingness to provide appropriate support for the organization of business activities in the country.

The foreign trade turnover between the two countries amounted to $21.788 million by the end of 2013, which is 9.2 percent less than in 2012, according to the State Customs Committee of Azerbaijan.