Azernews.Az

Nazrin Abdul, AZERNEWS

In a bid to bolster their bilateral ties, Azerbaijan and Slovakia have intensified efforts to enhance cooperation across various sectors, marking significant strides towards mutual prosperity.

President Ilham Aliyev welcomed Slovak Prime Minister Robert Fico during his visit to Azerbaijan on May 7, highlighting the significance of this meeting as a catalyst for a new chapter in Slovakia-Azerbaijan relations.

Within this pivotal meeting, several foundational agreements were inked, including the “Joint Declaration on the Establishment of Strategic Partnership between the Republic of Azerbaijan and the Slovak Republic”, “Memorandum of Understanding between the Ministry of Defense Industry of the Republic of Azerbaijan and the Ministry of Defense of the Slovak Republic in the field of Military-Technical Cooperation” and “Agreement between the Ministry of Defense of the Republic of Azerbaijan and the Ministry of Defense of the Slovak Republic on Defense Cooperation”.

With Azerbaijan's strategic geographical position linking Europe and Asia complemented by Slovakia's pivotal role in Central Europe, both nations envision promising opportunities for enhanced trade and commercial collaboration. Prime Minister Robert Fico echoed this sentiment, expressing readiness to serve as a conduit between the European Union and Azerbaijan, aiming to provide an objective portrayal of Azerbaijan within the EU.

“We are ready to become a bridge between Azerbaijan and the European Union,” Prime Minister of Slovakia Robert Fico said in a joint press conference with President Ilham Aliyev.

"We want to present the objective situation in Azerbaijan to the European Union," the Prime Minister added.

During the discussions, President Aliyev addressed the imperative of ensuring reliable transportation of Azerbaijani natural gas to Europe. Highlighting plans to increase gas supply from 8 to 12 billion cubic meters this year, constituting 50% of Azerbaijan's total gas exports, President Aliyev reiterated ambitions to transport 20 billion cubic meters of gas to the European Union by the end of 2027.

According to Azerbaijani President Ilham Aliyev "Azerbaijan presently exports its natural gas to 8 countries, with Slovakia poised to become the 9th destination. In April of last year, the 'Ring of Solidarity' agreement was signed, paving the way for the transportation of Azerbaijani gas to the Slovakian market, thereby creating promising opportunities for bilateral energy cooperation."

Economic ties between Azerbaijan and Slovakia continue to burgeon as both nations collaborate on regional and global issues of mutual interest. The Azerbaijani President announced that the reconstruction of the Garvand village in Aghdam will be undertaken by a Slovak company, emphasizing the symbolic significance of this collaboration.

The project, guided by the principles of "smart city" and "smart village," is poised to meet the highest modern standards, offering a beacon of hope for the returning populace.

Moreover, the Azerbaijan-Slovakia Business Forum held in Baku witnessed the signing of two pivotal documents. Minister of Economy Mikayil Jabbarov highlighted the concerted efforts to bolster bilateral relations, underscoring the expansion of the legal framework with the signing of 11 significant documents between the two nations.

Of notable significance is the "Agreement on Economic Cooperation between the Government of the Republic of Azerbaijan and the Government of the Slovak Republic," signed in October 2021, fostering collaboration across various sectors including industry, construction, transport, logistics, investment promotion, and energy.

Furthermore, an agreement aimed at preventing double taxation, signed in 2023, is poised to enhance the business environment between Azerbaijan and Slovakia. The Joint Declaration on Strategic Partnership between the two countries, currently under consideration, holds promise for deeper economic ties.

In her address at the Business Forum, Deputy Prime Minister and Minister of Economy Denisa Sakova of Slovakia affirmed that the Joint Declaration on Strategic Partnership would serve as another milestone in deepening economic relations between Azerbaijan and Slovakia. She highlighted the role of the documents signed in simplifying trade cooperation and facilitating market entry for companies from both nations.

Sakova emphasized the transformative potential of the documents inked, noting their facilitation of trade cooperation and the opening of new avenues for companies to engage in both markets. Notably, 37 Slovak companies and institutions participated in the forum, underscoring the keen interest in forging new partnerships and strengthening existing ones.

Among the agreements signed to reinforce bilateral relations, two memoranda stand out. Firstly, a memorandum of cooperation between the Azerbaijan Investment Company and the Slovak Export and Import Bank (EXIMBANKA), is poised to enhance financial collaboration. Secondly, a memorandum of cooperation between Slovakian firm "SEAK Energetics" and "ITECH GROUP" LLC from Azerbaijan, promising collaborative ventures in the energy sector and beyond.

In essence, the documents signed today herald a new chapter in the Azerbaijan-Slovakia partnership, reflecting a shared commitment to mutual growth, prosperity, and enduring friendship.

In a recent statement to journalists at the Azerbaijan-Slovakia business forum in Baku, Yusif Abdullayev, the executive director of Azerbaijan Republic's Export and Investment Promotion Agency (AZPROMO), highlighted the ongoing development of relations between the two nations.

Abdullayev acknowledged the current modest trade figures between Azerbaijan and Slovakia. He emphasized with over 90 representatives from various companies participating in the forum, Abdullayev emphasized the potential for significant expansion in bilateral cooperation.

"Unfortunately, our trade figures are not high. Only 7 Slovak companies operate in Azerbaijan. After the forum we organized in Baku, our trade relations will develop further. In total, more than 90 company representatives are participating in this forum. This business forum is the visit of the Prime Minister of Slovakia to Azerbaijan. We believe that cooperation in the field of industry, agriculture and IT will develop."

Despite the existing small volume of exports between the two countries, Abdullayev stressed the importance of expanding trade, not only in terms of products but also services. Looking ahead, both Azerbaijan and Slovakia anticipate a mutually beneficial partnership that will drive economic growth and prosperity for both nations.

He emphasized that the Azerbaijan-Slovakia Business Forum convened today marks the dawn of fresh avenues and opportunities for collaboration between the two nations. "Our partnership with Slovakia has been robust and fruitful. Over the past 15 years, we have witnessed a multitude of joint initiatives held both here in Azerbaijan and Slovakia," he remarked.

In his address, Y. Abdullayev extended a warm invitation to his counterparts to partake in the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29), slated to convene in Baku this November.

As Azerbaijan and Slovakia deepen their partnership, prospects for enhanced cooperation are on the horizon. Leveraging their respective strengths and exploring new avenues of collaboration, both nations are poised to reap the rewards of their burgeoning relationship. With a shared commitment to prosperity and development, Azerbaijan and Slovakia are primed to chart a course towards a mutually beneficial future.

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