Azerbaijan, France eye business ties dev’t

By Azernews

By Ayya Lmahamad

Azerbaijan’s Economy Ministry and France’s MEDEF International have discussed the development of business relations between the two countries' business communities.

Speaking at the meeting, Economy Minister Mikayil Jabbarov provided updates on Azerbaijan-France cooperation in the economic, humanitarian and cultural spheres, and emphasized the role of MEDEF International in the development of business relations.

He noted that French companies, representing various sectors of the economy, operate in Azerbaijan and participate as contractors in a number of infrastructure projects.

Jabbarov informed the French delegation about the main priorities of Azerbaijan’s economic development and reforms undertaken by the Azerbaijan Investment Holding regarding state companies, and modern methods of corporate governance.

MEDEF International Director-General Philippe Gautier highly appreciated the meetings held in Azerbaijan and stressed the importance of continuing cooperation in the post-pandemic period.

Emphasizing that Azerbaijan is a reliable partner in the region, he noted that MEDEF International will continue effective cooperation with Azerbaijan’s Export and Investment Promotion Foundation (AZPROMO).

Moreover, French ambassador Zacharie Gross emphasized the importance of meetings of large delegations of business circles in terms of developing bilateral relations. He mentioned that a stable and safe environment has been created in Azerbaijan for European companies as well as for French businessmen.

The meeting focused on the development of Azerbaijani-French trade and economic relations, and cooperation in the field of transport, and energy, including hydrogen production.

It should be noted that MEDEF International, which has been cooperating with Azerbaijan since 1992, is a non-profit organization that represents the private sector of France at the international level and includes about 7,100 companies. The organization's main goal is to promote the best practices of French companies around the world.

The Azerbaijani-French trade turnover amounted to $245.4 million in 2021.