Baku, Prague eye business circles ties expansion

By Azernews

By Ayya Lmahamad

Azerbaijan and the Czech Republic have discussed the opportunities to expand ties between business circles of the two countries, Azernews reports.

The discussion took place during a meeting between representatives of Azerbaijan's Export and Investment Promotion Agency (AZPROMO) and Czech Ambassador Milan Sedlacek.

During the meeting, the parties also discussed the opportunities to increase the export of products.

Moreover, AZPROMO Head Yusif Abdullayev briefed the ambassador about the activities of the agency and its main objectives.

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 operate 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.