Azernews.Az

By Ayya Lmahamad

Azerbaijan and the Czech Republic have discussed possibilities of cooperation on the smart city and smart village projects, Azernews reports.

The discussion took place during a meeting between Azerbaijan’s Deputy Economy Minister Sahib Mammadov and Czech Ambassador Milan Sedlacek.

Stressing the potential for strengthening trade and economic partnership, the deputy minister noted that the joint Azerbaijani-Czech commission is a useful platform in this regard.

He stated that there are wide opportunities for expanding cooperation between the two countries in the areas of investment, trade, industry, innovation, transport and transit, and tourism.

Moreover, Sahib Mammadov briefed on the favorable business and investment environment created in Azerbaijan, and on the reconstruction work carried out in the country’s liberated territories. He also invited Czech companies to actively cooperate with their Azerbaijani counterparts.

In his turn, the ambassador noted the fruitful cooperation between Azerbaijan and the Czech Republic and shared his views on the directions of expanding relations.

The meeting discussed the development of trade and economic cooperation and partnership in investment projects.

Diplomatic relations between the two countries were established on January 29, 1993. Azerbaijan and the Czech Republic cooperate in different spheres of the economy. Around 30 companies with the Czech capital operating in Azerbaijan. The Czech Republic had invested $37.2 million in Azerbaijan, while Azerbaijan’s investment in the Czech Republic amounted to $48.2 million during the period from 1995 to 2021.

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

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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