Baku, Lisbon eye prospects of cooperation

By Azernews

By Gunay Hasanova

Azerbaijan and Portugal discussed the prospects of cooperation in the political and economic spheres as Foreign Minister Elmar Mammadyarov visits Lisbon.

During his official visit, the minister met with Paulo Alexandre Ferreira, Secretary of State Assistant and of Commerce, the Azerbaijani Foreign Ministry reported on November 16.

Mammadyarov informed the official of the favorable business climate created in and invited the Portuguese businessmen to the country.

The sides further discussed possibilities of cooperation in areas such as non-oil sector, agriculture, light industry and ICT.

Portugal recognized the independence of the Republic of Azerbaijan on January 7, 1992. Diplomatic relations between Azerbaijan and Portugal was established on August 4, 1992.

Azerbaijan and Portugal established successful relations despite the geographical distance between the two countries. The representatives of both countries often pay high-level visits and the sides are actively cooperating as part of the international forums.

Azerbaijan and Portugal have a high potential for cooperation in the fields of information technologies, tourism, construction, agriculture, health, and education.

The trade turnover between Azerbaijan and Portugal amounted to $ 332.13 million, including the volume of import $ 19.49 million, export $ 312.64 million during January-September, 2016.

The share of Portugal in foreign trade turnover of Azerbaijan was 2.16, as well as 0.30 percent for import and 3.56 percent for export during the mentioned period.