Baku and Prague consider energy cooperative in preparation for creation of joint task force [PHOTO]

Baku and Prague consider energy cooperative in preparation for creation of joint task force [PHOTO]

By Ayya Lmahamad

Azerbaijan and the Czech Republic discussed issues of energy cooperation between the two countries, reports Azernews, citing the Ministry of Energy.

The discussion took place during the meeting between Azerbaijani Energy Minister Parviz Shahbazov and outgoing Czech Ambassador Milan Ekert.

During the meeting, the parties discussed the energy cooperation agreement signed between the Azerbaijani Ministry of Energy and the Czech Ministry of Industry and Trade.

They also exchanged views on the creation of a joint working group and the holding of its first meeting.

On September 30, 2021, Azerbaijan and the Czech Republic signed an energy cooperation agreement. The agreement provides for the expansion of bilateral cooperation in the fields of oil and gas, petrochemicals, renewable energies, including bioenergy in the field of energy, and the establishment of relations between the relevant sectors in accordance with the national legislation of both countries. The document also covers the development of cooperation in energy efficiency and energy saving in the residential sector and large energy companies, as well as issues such as the mutual exchange of information and practices, training sessions, joint seminars, conferences and forums.

Azerbaijan and the Czech Republic cooperate in different areas of the economy. About 30 companies with Czech capital operating in Azerbaijan. The Czech Republic invested $37.2 million in Azerbaijan, while Azerbaijan’s investment in the Czech Republic amounted to $48.2 million between 1995 and 2021.

Incidentally, the trade turnover between Azerbaijan and the Czech Republic amounted to $307.4 million in 2021.

Ayya ​​Lmahamad is the journalist of AzerNews, follow her on Twitter: @AyyaLmahamad

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Berta D. Wells