Azernews.Az

Bulgaria deems it important to take its relations with Azerbaijan to a new level, President Georgi Parvanov said Monday in a meeting with his counterpart Ilham Aliyev during a visit to Baku.

"From this viewpoint, we consider mutual investments by the two countries as very important," he said. "We want Bulgarian capital, Bulgarian investments to be [placed] in Azerbaijan as well."

Parvanov said the model of the development of Bulgarian- Azerbaijani ties could be applied to the relations between many other countries.

"But first and foremost, our friendly relations have translated into business ties. From this point of view, our partnership is rich in real content, which has special importance for the development of relations between the two sides."

President Aliyev, for his part, said Bulgarian-Azerbaijani political relations are at a high level, which is proven by mutual visits.

Aliyev further stressed that bilateral trade turnover has increased.

The trade turnover made up $230.8 million in January-July 2011, according to Azerbaijan’s State Statistics Committee.

Aliyev also said energy plays an important role in bilateral relations, and the two countries’ companies are holding talks on cooperation in this field.

"We are witnessing successful development [of relations] in all areas and I am confident that this positive dynamic will be maintained after your visit," the Azerbaijani leader said.

The two countries signed a memorandum in 2009 on supplying 1 billion cubic meters of Azerbaijani gas per year to Bulgaria. The possibility of delivering compressed gas to Bulgaria is under consideration as well.

A number of agreements were signed after the presidents’ talks. These include an inter-governmental agreement on mutual protection and exchange of confidential information and an agreement between the Azerbaijan State University of Economics and Bulgaria's University of National and World Economy. Also signed were memorandums on cooperation between the two foreign ministries’ institutions for diplomacy studies and between the labor and social security ministries.

The signing was followed by the ceremony of awarding the Bulgarian and Azerbaijani presidents with high state orders.

President Aliyev was conferred with Stara Planina, Bulgaria's highest state award, while President Parvanov received the Heydar Aliyev Order, which is named after Azerbaijan’s late national leader and former president.