Azernews.Az

By Nazrin Gadimova

A forum will be organized in Baku involving heads of industrial groups from Azerbaijan and France.

The event will be co-organized by the French embassy in Baku and Movement of the Enterprises of France (MEDEF).

Also, Azerbaijani Energy Ministry and French Ministry of Ecology, Sustainable Development and Energy will ink a Memorandum of Understanding on cooperation in the field of energy.

The event will be arranged as part of French President François Hollande`s visit to Baku later this month.

French President will visit Azerbaijan in the framework of a tour of the South Caucasus countries. The visit, which is scheduled for May 11-12, will discuss a range of issues on political and economic cooperation.

Azerbaijan is one of the most important partners of France in the Caucasus region, with relations between the two countries having reached a qualitatively new level in political, economic, and socio-humanitarian fields in recent years.

Trade turnover between the two countries in the first quarter of 2014 increased by more than half, consisting of $370.179 million, where the share of exports accounted to $334.52 million.

France recognized Azerbaijan's independence on January 3, 1992. Azerbaijan and France established diplomatic relations on February 21, 1992.

France Embassy was established in Baku on March 16, 1992. The Azerbaijani Embassy was established in Paris on October 20, 1994.