AZERBAIJAN’S MINISTER OF ECONOMIC DEVELOPMENT MEETS WITH LUXEMBOURG COUNTERPART
Minister of Economic Development of Azerbaijan Heydar Babayev met with Minister of the Economy and Foreign Trade, Luxembourg, Mr. Jeannot Krecké and his accompanying delegation.
Present at the meeting were representatives of the Luxemburg State Export Insurance Company, Ministry of Economy and Foreign Trade, Chamber of Commerce, Association of Luxembourg Fund Industry. Discussions focused on the present state of economic ties and prospects for development of cooperation.
Minister Heydar Babayev told of the existing economic situation in Azerbaijan, successful economic reforms, accomplishments achieved, and areas of economic development in the country. H. Babayev noted that state program on the socio-economic development of regions is being successfully implemented. Under the program, hundreds of schools, hospitals, diagnostics centers were constructed.
He pointed out that financial and banking sector is also developing, and cooperation with Luxembourg would be very fruitful.
According to H. Babayev, it would be expedient if Azerbaijan Export and Investment Promotion Foundation will organize business forums and exhibitions for expanding ties among businessmen of both countries.
Azerbaijani Minister said there are opportunities for expanding cooperation in the chemistry, machine building, tourism, pharmaceutics and other sectors of economy. He called on the Luxembourg businessmen to take advantage of existing opportunities in the non-energy sector.
Minister Krecké noted Luxembourg closely monitors economic reforms and rapid economic growth in Azerbaijan. He invited H. Babayev to Luxembourg in order to widen existing economic ties between the two countries.
During the meeting, Luxembourg businessmen told of the activity of their companies, saying they are interested in cooperation with Azerbaijani partners.
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