Azernews.Az

By Sara Rajabova

Azerbaijan highlighted the importance of good coordination of relations between Azerbaijani and Czech business circles.

President Ilham Aliyev said at the Azerbaijan-Czech business forum in Baku on September 16, which was also attended by Czech President Milos Zeman, that the meetings held so far between the businessmen of the two countries are contributing to strengthening the ties.

President Aliyev said the bilateral relations are of strategic nature, stressing the importance of the Joint Declaration on Strategic Partnership, signed between the two countries during President Zeman’s visit.

The president highlighted the participation of Czech banks in Azerbaijani projects and Azerbaijan's successful fulfillment of its obligations as a financial partner. The two sides discussed the need for determining new areas of cooperation for the upcoming years.

President Aliyev further spoke of the possibilities of cooperation in transportation. The president stressed the significance of the projects like the Baku-Tbilisi-Kars railway and the Baku International Sea Trade Port.

A new international trade seaport is currently under construction in Baku. The total capacity of this port will be 25 million tons.

At the same time, the construction of the Baku-Tbilisi-Kars railway is underway. The BTK route, designed to connect the railway systems of Azerbaijan, Georgia, and Turkey, is the missing link between Europe and Asia.

Stressing that Azerbaijan is a reliable supplier of oil to the Czech Republic, President Aliyev spoke about Azerbaijan’s role in the implementation of the Southern Gas Corridor project, noting that the country has become a major player in the European gas market.

He said this project will create opportunities for Azerbaijan to diversify its supply routes.

Furthermore, speaking about the investment sphere in Azerbaijan, President Aliyev said $27 billion was invested in Azerbaijan in 2014, adding that foreign investments are significant here.

"This shows that despite the continued economic crisis in the world, a positive investment sphere is observed in Azerbaijan. One of the main factors, confirming this, is the 4-plus percent growth of Azerbaijani economy during the first 8 months of 2015, the development of the non-oil sector, and the less than 10 percent-external debt," the president said.

Stressing that Azerbaijan's economy is one of the 40 most advanced economies in the world, President Aliyev emphasized good conditions for cooperation in the field of agriculture.

He talked about the possibility of considering conditions for establishing joint ventures. In conclusion, he expressed confidence that the current forum will create good conditions for revealing new areas of cooperation.

Meanwhile, President Zeman stressed certain similarities between the two countries, which is evident in the field of economy.

“For example, like Azerbaijan, the Czech Republic differs in the low level of unemployment and an external debt in the European area,” President Zeman said.

He also added that more than 30 percent of oil imported into the Czech Republic comes from Azerbaijan.

President Zeman further said more than 200 Azerbaijani students study in the Czech Republic and noted that there are possibilities of expanding ties in the field of education.

Praising the establishment of close cooperation between Azerbaijan and the Czech Republic, President Zeman stressed the importance of establishing close cooperation between the business circles.

He also expressed confidence that the two sides will take advantage of the created opportunities.

The Czech Republic recognized the independence of Azerbaijan on January 8, 1992. Two countries established diplomatic relations on January 29, 1993.

From January to July 2015, the trade turnover between the two countries amounted to $440.93 million, according to the State Customs Committee of Azerbaijan.

The Czech Republic mainly imports Azerbaijani oil, but predominantly exports industrial equipment and consumer goods to Azerbaijan.

Czech companies are present in Azerbaijan and implement contracts worth about $1 billion.

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Sara Rajabova is AzerNews’ staff journalist, follow her on Twitter: @SaraRajabova

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