Baku, October 27, AZERTAC

On October 21, 2025, the Central Baltic - Azerbaijan Business Forum and Gala Event took place in Baku. Organized by the LEF Network Azerbaijan team and Caspian Energy Club, the forum focused on strengthening economic cooperation between Azerbaijan and the Central Baltic region, which includes Latvia, Estonia, and Finland, according to Rasim Mahmudov, Chairman of Caspian Energy Club Europe.

Prior to the Forum, a series of B2B meetings were held among participating companies. These meetings aimed to establish direct dialogue between business representatives from Azerbaijan and the Central Baltic region, discuss mutually beneficial projects, and explore new avenues for collaboration.

The Forum featured opening remarks by Ms. Marijana Kujundžić, Head of the EU Delegation to Azerbaijan; Mr. Edgars Skuja, Ambassador Extraordinary and Plenipotentiary of the Republic of Latvia to Azerbaijan; Mr. Väino Reinart, Ambassador Extraordinary and Plenipotentiary of the Republic of Estonia to Azerbaijan; Ms. Kirsti Narinen, Ambassador of Finland for the South Caucasus; Mr. Telman Aliyev, Chairman and Group CEO of Caspian Energy Club; Ms. Katrina Zarina, Chairperson of the Board of the Latvian Chamber of Commerce and Industry; and Mr. Heikki Haaparanta, Dean of Satakunta University of Applied Sciences. The Forum was moderated by Mr. Martins Vargulis, representative of PowerHouse Latvia.

In his speech, Telman Aliyev emphasized the strategic importance of relations between Azerbaijan and the Central Baltic countries, stating:

“Over the past three years, significant work has been carried out within the framework of the ‘LEF Network Azerbaijan’ project. Our partners from Latvia, Estonia, and Finland have shown great attention and sensitivity to this initiative. Their support for both Azerbaijani companies and their own business communities is a clear example of mutual trust and friendship.

I would like to especially note the active role of H.E. Mr. Edgars Skuja, Ambassador of Latvia to Azerbaijan, who personally participated in nearly all project events and has continuously supported initiatives aimed at strengthening Azerbaijan-Latvia business ties. Within the framework of the project, we also held a number of productive meetings with the former EU Ambassador to Azerbaijan, Mr. Peter Michalko, as well as with the Ambassadors of Finland and Estonia.

The mutual visits of Latvian, Estonian, and Finnish companies to Azerbaijan, and Azerbaijani companies to these countries, contributed not only to expanding business relations but also to better understanding each other’s cultures and traditions. We

became closer and more connected, and this laid the foundation for discussing the continuation of this project, creating new opportunities for further cooperation.

Today, we are already working on new ideas and tools to enhance inter-company collaboration, implement innovative technologies, exchange experience, and increase mutual trade turnover.

I can confidently state that the objectives set by the ‘LEF Network Azerbaijan’ project have been achieved by more than 100%. The project continues successfully, and another business visit is planned in the coming months.

Much will depend on the companies signing memorandums today. As Caspian Energy Club, we are inviting Latvian, Estonian, and Finnish companies to join the Club with a 90% discount for ‘Bear Club Membership’ and a 50% discount for ‘CEO PLUS

Membership’. We are confident that this symbolic membership fee will allow them to actively participate in Caspian Energy Club’s events held in more than 100 countries worldwide, build new international connections, and achieve joint success in future projects.”

Following his speech, Caspian Energy Club Honorary Membership Certificates were

presented to Ambassador Marijana Kujundžić, Ambassador Edgars Skuja, Ambassador Väino Reinart, Ambassador Kirsti Narinen, and Mr. Anar Maharramov, Ambassador Extraordinary and Plenipotentiary of the Republic of Azerbaijan to Estonia.

After the opening ceremony, a panel discussion titled “Future Prospects of Cooperation Between Azerbaijan and the Central Baltic Region” was held, featuring Rasim Mahmudov, Katrina Zarina, Sven Sester (Honorary Consul of Azerbaijan in Estonia and Estonian expert), and Heikki Haaparanta.

In his remarks, Rasim Mahmudov stated:

“Cooperation between Azerbaijan and the Baltic countries is not limited to economic interests. These relations are a manifestation of friendship and mutual trust that strengthen knowledge exchange in innovation, technology, and education, as well as foster long-term partnerships across the region. Each joint project gives us an opportunity to build greater trust, explore new possibilities, and expand our strategic perspectives. We believe that this cooperation will bring sustainable benefits to both the public and private sectors, contributing to the region’s overall development.”

As part of the Forum, Liga Sičeva, Director of the EU Projects Department of the Latvian Chamber of Commerce and Industry, delivered a keynote presentation titled “A positive and long-term impact project between the Central Baltic region and Azerbaijan.” This

was followed by the screening of a video entitled “Azerbaijan and Central Baltic Success Stories.”

One of the key parts of the event was the “Central Baltic C Azerbaijan Cooperation Memorandum Signing Ceremony.” Three separate memorandums were signed

between Caspian Energy Club and the Estonian Chamber of Commerce and Industry, the Latvian Chamber of Commerce and Industry, and Satakunta University of Applied Sciences.

On behalf of Azerbaijan, the documents were signed by Mr. Telman Aliyev; on behalf of Latvia, by Ambassador Edgars Skuja and Ms. Katrina Zarina; on behalf of Finland, by Ambassador Kirsti Narinen and Mr. Heikki Haaparanta; and on behalf of Estonia, by Ambassador Väino Reinart.

After the Forum’s official part concluded, participants attended the “Gala C Networking Event”. The evening opened with speeches by Liga Sičeva and partners, followed by a musical program featuring Agnese Rakovska, a well-known Latvian singer-songwriter, lead vocalist of the pop-rock band “TrianasParks” (participant of the 2017 Eurovision Song Contest in Kyiv), and founder and creative director of Constellation Agency. The night continued with a musical performance by Primavera String Quartet, combining Azerbaijani and Baltic melodies, and a dance performance by the “Nərgiz” Dance Group.

Participants highlighted that the Forum was organized at a high professional level, both in terms of business discussions and informal networking opportunities.

• Project partners, who implements the project:

• Latvijas Tirdzniecības un rūpniecības kamera / Latvian Chamber of

Commerce and Industry – leading organization;

• Eesti Kaubandus-Tööstuskoda / Estonian Chamber of Commerce and Industry;

• Satakunnan ammattikorkeakoulu / Satakunta University of Applied Sciences;

• Caspian Energy Club project partner in Azerbaijan.

• Note: The Interreg Central Baltic programme co-finances the project.

Brief information about Caspian Energy Holding

Caspian Energy Holding was established in 2025 with the aim of uniting all networking platforms, media projects, forums, and awards operating under the Caspian Energy brand into a single ecosystem. By means of this ecosystem, Caspian Energy Club, the Public Union for Economic Cooperation with Europe, and the Azerbaijan National Business Association will enable entrepreneurs from over 100 countries to network with one another.

Caspian Energy Holding incorporates the following groups: Caspian Energy Club, Caspian Energy Club International, Caspian Energy Event Group, Caspian Energy International Media Group, Award Organizers Group, Caspian Energy Research Group, Caspian Energy Entertainment Group, Caspian Energy Jobs.

Entrepreneurs - members of Caspian Energy Club - will be able to benefit from all existing services within the unified ecosystem, as well as from legal, financial, tourism, consulting, and other services. A global loyalty program integrated into the ecosystem will also be implemented.

Established in 2002 by major transnational, state, and private oil, gas, and energy companies, and headquartered in Baku, Caspian Energy Club is a dynamic international business networking platform uniting more than 5,000 companies from 50 countries. Caspian Energy Club actively participates in business-government dialogue and focuses on improving the investment and business climate in Azerbaijan and other countries where it operates.

Caspian Energy Club International was established in 2023 to oversee the Club’s international projects and manage its foreign offices - operating in 63 cities worldwide - under unified standards. The Azerbaijan National Business Association (MILLI.BIZ) — which operates under this structure and plans to open representative offices in 100 countries over the next seven years — is a unified business platform representing Azerbaijani entrepreneurs both domestically and abroad. It promotes products and services from the regions to international markets and plays an active role in attracting foreign investment to Azerbaijan’s regions.