Azerbaijani, Czech regions eager to develop cooperation

17 January 2018 14:31 (UTC+04:00)

By Sara Israfilbayova

Azerbaijani Ambassador to the Czech Republic Farid Shafiyev has met Ivana Straska, the South Bohemia Region Governor to discuss the development of cooperation within the visit to Ceske Budejovice city.

At the meeting, the sides discussed establishment of cooperation relations, economic, including mutual investment projects, opportunities for cooperation in agriculture, as well as in fishing industry between the regions of Azerbaijan and Czech Republic.

Ivana Straska expressed her readiness to contribute to the development of cooperation between Azerbaijan and the Czech Republic.

Diplomatic relations between the Czech Republic and Azerbaijan were established in 1993.

Today, Azerbaijan significantly increases the energy security of the Czech Republic since the national oil provides a third of the annual consumption of the country. Therefore, Azerbaijan, which has made a significant contribution to the diversification of Czech energy resources, has become an important strategic partner of this European country.

Czech entrepreneurs, in turn, play active role in Azerbaijan’s economy, investing about $1.3 billion so far. Czech companies as contractors are involved in various projects in the country, totaling $16 billion.

Currently, there are 19 companies with Czech capital in Azerbaijan, and to date the Czech Republic has invested $1.3 billion in Azerbaijan’s fixed capital—é

Moreover, in the end of 2017 the management of Ganja Automobile Plant and representatives of the Czech Automobile Plant signed a memorandum, according to which, starting from 2018 various Tatra trucks will be produced in Azerbaijan.

The trade turnover between Azerbaijan and Czech Republic reached $924 million in ten months of 2017. As many as $846 million accounted for the export of Azerbaijani products, while the import of Czech products to Azerbaijan totaled $78 million.

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