Azernews.Az

By Amina Nazarli

Baku is going to host an Azerbaijan-Singapore Business-Forum in April, Azerbaijan Export and Investment Promotion Foundation reported.

A delegation of Singapore’s business people will arrive in the country on April 17.

The event will jointly be organized by AZPROMO and the Azerbaijani Industry and Economy Ministry, where the sides will discuss business cooperation.

The forum will feature companies from Singapore, which are operating in ICT, transport, pharmaceuticals, business management, industrial machinery, metallurgy and etc.

AZPROMO plays a role of a single body guiding foreign investors in their negotiations with all relevant government agencies and local entrepreneurs. The foundation has a number of missions abroad, in the U.S., the UK, Austria, the UAE, Georgia and Romania. The foundation is also planning to expand its activities in the markets of other countries.

Diplomatic relations between Azerbaijan and Singapore were founded in 1994.

Goods turnover between the two countries amounted to nearly $260.7 million in January-October 2012. Singaporean companies are quite active in the supply of equipment for Azerbaijani oil and gas projects. Singapore's Keppel is a major shareholder and operator of the new shipyard being built in the Azerbaijani capital Baku.

Azerbaijani state oil company SOCAR has already established business contacts in Singapore, and several Singaporean companies are operating in Azerbaijan as well.

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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli

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