Azernews.Az

By Amina Nazarli

Azerbaijan and Serbia will mull the development of mutual trade and economic cooperation in the coming years, Milorad Crevar, the First Counselor of Serbian Embassy in Azerbaijan told Trend on September 23.

Trade negotiations are expected to be held in Baku as part of the 4th meeting of the Intergovernmental Commission on trade-economic cooperation, scheduled for September 28-29.

The Serbian delegation will be headed by the country’s Deputy Prime Minister and Minister of Trade, Tourism and Telecommunications, Rasim Ljajic. The delegation will include eight Serbian companies, operating in industrial production, mechanical engineering, information and communication technologies, agriculture, logistics, and oil and gas production.

During the meeting of the Intergovernmental Commission the sides are also expected to sign a new protocol for trade.

Economy and Industry Minister Shahin Mustafayev will head the Intergovernmental Commission from the Azerbaijani side.

The Serbian minister will also meet with Azerbaijan’s Prime Minister, the Ministers of Economy and Industry, as well as the Culture and Tourism and Communications and High-Tech Ministers.

Serbia and Azerbaijan are strategic partners, and bilateral relations between the two countries are developing rapidly. Diplomatic relations were established in 1997 and the Embassy of Serbia was opened in Baku in 2011.

The sides signed more than 30 agreements in various fields. Priorities in trade and economic cooperation lie with projects in construction, education, tourism and infrastructure.

Until now, five business forums were held between the two countries. Azerbaijani company “Azvirt” began construction on the Lyig-Prelyina section of the 11th corridor highway in Serbia in 2013. Azerbaijan has allocated some €300 million to the construction of the Ljig-Preljina route.

Statistics from the State Customs Committee of Azerbaijan show that trade turnover between the two countries in January-July of this year amounted to $2,772 million.

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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli

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