Minister offers Bulgarian businessmen to invest in Azerbaijan

By Azernews

By Sara Israfilbayova

Economy Minister Shahin Mustafayev offered Bulgarian businessmen to invest in industrial and agro-parks in Azerbaijan.

Mustafayev, talking at a meeting with a delegation headed by Chairperson of the Budget and Finance Committee of the National Assembly of Bulgaria Menda Stoyanova in Baku, informed about the economic opportunities Azerbaijan offers.

Mustafayev mentioned that Azerbaijan and Bulgaria have signed more than 20 documents only in the economic sphere between.

"The intergovernmental commission plays an important role in development of relations between the two countries. The Azerbaijani-Bulgarian business forum was held last year, which played an important role in creating direct ties between the business circles of the two countries. Currently, 9 companies with Bulgarian capital are operating in Azerbaijan", the minister said.

The minister stressed that Azerbaijan has created a favorable business and investment climate and there is a great potential for the development of economic ties and cooperation in energy, education, tourism and agriculture.

"Bulgarian businessmen can invest in various spheres of the Azerbaijani economy, particularly industrial and agro-parks. Azerbaijan is a transit hub in the region and large projects are being implemented in this regard,” Mustafayev said, adding that Bulgaria can also take advantage of Azerbaijan's transit opportunities.

In turn, Stoyanova expressed the pleasure of the meeting, further adding that Bulgaria is interested in expanding relations with Azerbaijan.

The Government of the Republic of Bulgaria recognized the independence of the Republic of Azerbaijan on January 14, 1992 and the diplomatic relations between the two countries were established on June 5, 1992.

Both countries are members of the Organization of the Black Sea Economic Cooperation (BSEC).

The trade turnover between Bulgaria and Azerbaijan reached almost $4.77 million in January-May 2017, $4.69 million of which fell on imports from this country, according to Azerbaijan’s State Customs Committee.