ECONOMY

AZERBAIJANI-GERMAN ECONOMIC FORUM TAKES PLACE IN STUTTGART

06.05.2004 [11:50]
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The Azerbaijani-German Economic Forum was held in Stuttgart, Germany. The delegation consisting of 40 Azerbaijan companies, representing textile, food processing, machine-building, metallurgy, construction and chemical industries was headed by the deputy minister of Economic Development Mikayil Jabbarov. The forum was carried out with the technical assistance of the German Technical Cooperation Society (GTZ) within the framework of the program for the country’s private sector development. The counterpart for the organization of the Forum was the Azerbaijan Investment Promotion and Advisory Foundation.

Representatives of about 50 local companies, the Government of the Federal Land of Baden-Wurttemberg, the Federal Government of Germany, etc. took part in the event from the German side.

At the forum Mikayil Jabbarov briefed participants on the current economic situation in Azerbaijan, main economic indicators, and plans of the government for the future economic development. In addition, the deputy minister also mentioned the major advantages of the Azerbaijan Republic in attraction of foreign investors.

The acting president of the Azerbaijan Investment Promotion and Advisory Foundation Emil Majidov acquainted the audience with activities and history of the organization, as well as provided information about services of the Foundation available to foreign investors and successful practices existing in Azerbaijan in attraction of FDIs.

The contributions were followed by speeches of the representatives of the German business who possess experience of work in Azerbaijan, the representatives of the government of the Federal Land and the German Technical Cooperation Society.

Meetings in the Federal Government of Baden- Wurttemburg, in particular, with the State Secretary of the Ministry of Economy Horst Mehrlander were also held within the framework of the forum. The preliminary agreement on organizing a counter visit of political and business delegation of the Federal Land to Azerbaijan was achieved. Besides, meetings in Commerce and Industry Chamber of the Land, in the Mayor of Stuttgart’s office, etc. were held.

As a result of the Forum direct contacts between the Azerbaijani and German businessmen were established, a number of preliminary business agreements were achieved, mostly, contemplating assistance to the Azerbaijani companies in purchase, assembly and modernization of the industrial equipment and machinery.

On April 26, the delegation of Azerbaijan Investment Promotion and Advisory Foundation and the Azerbaijan businessmen also visited the trade fair of the second-hand machinery and equipment in the German city of Karlsruhe.