Baku and Prague consider expanding business circles

By Ayya Lmahamad

Azerbaijan and the Czech Republic discussed opportunities to expand ties between the business communities of the two countries, reports Azernews.

The discussion took place during a meeting between representatives of the Azerbaijani Export and Investment Promotion Agency (AZPROMO) and Czech Ambassador Milan Sedlacek.

During the meeting, the parties also discussed the possibilities of increasing the export of products.

In addition, the head of AZPROMO, Yusif Abdullayev, informed the ambassador about the agency’s activities and its main goals.

Diplomatic relations between the two countries were established on January 29, 1993. Azerbaijan and the Czech Republic cooperate in different areas of the economy. About 30 companies with Czech capital operate 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.

Trade turnover between Azerbaijan and the Czech Republic amounted to $307.4 million in 2021.

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