Azernews.Az

By Nigar Abbasova

France and Azerbaijan are keen to develop bilateral cooperation in different industries.

"French companies invested about 2.4 billion of dollars in the economy of Azerbaijan," Shahin Mustafaev, minister of economy said during the meeting with Marie-Ange Debon, Co-chairperson of Azerbaijan-France Business Council and senior Executive Vice-President of the SUEZ Group.

Addressing the meeting the minister mentioned that the economic ties between the countries are developing in different directions, currently some 40 companies funded by France are functioning in Azerbaijan. He called on French companies to invest in the spheres of agriculture, transport, construction, aviation, tourism, high-tech, and ecology and particularly to the project implemented in private sector.

Marie-Ange Debon, in her turn, underlined existing potential for the further development of cooperation between businessmen of the two countries. “The visit will provide great opportunities for the acquaintance with business and investment potential of Azerbaijan,” Debon said.

She expressed her confidence in continuing and diversifying economic cooperation between Azerbaijan and France.

Movement of the Enterprises of France (MEDEF) is keen to explore the perspectives of developing business ties with Azerbaijan. The visit which is the sixth in succession is expected to provide for large meetings and discussions on important political and economic issues with high-ranking representatives of the Azerbaijani government, heads of large state entities, local companies and international financial institutions functioning in Azerbaijan thus giving a stimulus for the further development of cooperation between Azerbaijan and France in different spheres.

Aurelia Bushes, the ambassador of France to Azerbaijan also mentioned that Azerbaijan is a significant partner of France in the South Caucasus region. “France is highly interested in broadening bilateral cooperation between the countries,” she said.

The ambassador underlined that the economic reforms implemented in Azerbaijan provide for opportunities for foreign companies and very favorable conditions have been created in the country for foreign investors.

French companies are also participating in the petrochemical, food, agricultural, machine engineering, tourism and other spheres in Azerbaijan. Azerbaijan attaches paramount significance to cooperation with France country as it is one of the World’s leading countries. France assisted Azerbaijan in launching its first telecommunications satellite Azerspace which is considered to be one of the most important developments in the history of modern Azerbaijan. Turnover between the two countries in the first quarter of 2016 amounted to $233.13 million.

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