Today in Baku started the Azerbaijani-Bulgarian business forum, which discussed issues of further expansion of business cooperation, including investment between the two countries.
The Deputy Minister of Economic Development Niyazi Safarov said that Azerbaijan and Bulgaria there is a perfect legal contractual framework that allows full development of trade and economic relations.
In Azerbaijan, there are 10 companies with the Bulgarian capital. Safarov said Bulgarian entrepreneurs may be interested in Azerbaijan's production capabilities and processors and packaging of agricultural products, machinery, pharmaceutical and chemical industries as well as tourism and construction.
Minister of Regional Development and Public Affairs of Bulgaria Lilia Pavlova expressed satisfaction with the development of trade and economic relations between the two countries.
During the business forum Azerbaijan's Azvirt signed a memorandum of understanding on cooperation with the company Dynamic Resource. Another local company "Caspian Service" signed similar documents with the Bulgarian Dynamic Resource and Biad Company.
The business forum was attended by representatives of 12 Bulgarian companies working in the fields of engineering, power engineering, construction, etc. Today Bulgarian businessmen will visit several Azerbaijani companies. In particular, they will visit the company "NB Group", which produces construction materials, said Turan in the fund for the promotion of exports and investment (AZPROMO). - 08D-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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