TODAY.AZ / Business

Azerbaijan, UK eager to expand co-op (Exclusive)

01 December 2018 [10:01] - TODAY.AZ

By Trend

The UK companies continue to look at opportunities in a number of sectors in Azerbaijan, Steve Smith, the Head of Trade and Investments Department of the UK Embassy in Baku, told Trend.

He underlined that the UK is Azerbaijan’s leading investor and there are currently some 523 British companies operating in the country, primarily in the oil and gas sector, but also in mining, construction, financial services, retail, fashion and healthcare.

Smith stressed that real progress is being made in a number of mentioned spheres.

"This includes encouraging collaboration between Azercosmos and the UK Space Agency, ASAN and the UK’s Government Digital Service (GDS), planned ministerial visits to the UK covering agriculture and healthcare, and more cooperation in education and environmental matters," he noted.

According to Smith, the British ambassador is leading a very active policy to help Azerbaijan eradicate single-use plastics and to develop a greener, more low-carbon economy.

Further, he emphasized that economic cooperation between the UK and Azerbaijan is very strong and the sides enjoy rich and close relationship that spans many years.

So far, the UK has invested over $27 billion in the economy of Azerbaijan.

In January-October 2018, trade turnover between the countries amounted to $455.59 million, of which $257.4 million accounted for exports from Azerbaijan.


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