Bulgaria-Azerbaijan Business Forum explores cooperation beyond energy
Baku, October 31, AZERTAC
Participants in a Bulgaria-Azerbaijan Business Forum featuring B2B meetings discussed in Sofia on Thursday ways to deepen and expand economic ties beyond the energy sector, according to BTA. The event brought together representatives of 80 Bulgarian companies and 25 companies from Azerbaijan. It was organized by the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA) and the Azerbaijan Export and Investment Promotion Agency, with support from Bulgaria's Energy Ministry.
Earlier in the day, the Joint Intergovernmental Commission between Bulgaria and Azerbaijan held its 7th meeting, hosted in Sofia and co-chaired by Bulgaria's Energy Minister Zhecho Stankov.
Deputy Energy Minister Iva Petrova said at the forum: "Our strategic partnership with Azerbaijan has reached a new level, and the business forum provides a new opportunity to strengthen our ties." She noted that the energy sector remains a key area of cooperation, highlighting Azerbaijan's role in Bulgaria's efforts to diversify natural gas supplies and its importance for regional energy security.
For his part, Agriculture Minister Majnun Mammadov said: "Azerbaijan and Bulgaria have 30 years of diplomatic relations founded on friendship and mutual trust. I believe the time has come for both sides to further develop their relations."
He described the discussions at the meeting of the Joint Intergovernmental Commission as productive and comprehensive, covering sectors including trade, energy, agriculture, tourism, education and social protection.
Mammadov also highlighted areas he considers key for Azerbaijan as Baku seeks to diversify the drivers of its national economic growth beyond energy: trade, investment and technology transfer. Priority sectors include agriculture, digitalization and sustainable development.
Mammadov said Azerbaijan offers foreign companies a favourable and competitive environment.
BSMEPA Executive Director Boyko Takov said: "This business forum brings together two rapidly developing economies, with growing opportunities for cooperation between them." He highlighted several promising areas for collaboration, including industrial equipment and machinery; engineering solutions; food processing and agricultural technologies; pharmaceuticals; cosmetics and consumer goods; logistics and transport; and information technology and digital transformation.
"Our shared goal should be to advance our relations: from trade to partnership, from import/export to joint investments, innovation and value creation," Takov added.
Yusif Abdullayev, Executive Director of the Export and Investment Promotion Agency of Azerbaijan, said energy cooperation is strong, but the forum focuses on diversifying growth sources beyond oil and gas. He said there are significant opportunities and potential to deepen ties in sectors such as industry, agriculture, food production and transport. He added that Azerbaijan is also open to cooperation in information and communication technology.
Abdullayev highlighted the special economic zones and duty-free zones as a key element of Azerbaijan's business environment. In discussing these zones, he paid particular attention to the ALAT Free Economic Zone.
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