Issues of realization of prospects for the development of economic cooperation were discussed within the framework of the visit of the delegation led by the Minister of Economy Mikayil Jabbarov to Bosnia and Herzegovina.
The delegation led by the Minister of Economy Mikayil Jabbarov visited Bosnia and Herzegovina according to the order of the President of the Republic of Azerbaijan.
Mikayil Jabbarov, who met with the Chairman of the Council of Ministers of Bosnia and Herzegovina Mrs. Borjana Kristo, emphasized that Azerbaijan attaches importance to relations with this country, and that there is great potential for strengthening economic and trade cooperation. The work done to promote investment activities in our country, the favorable environment created for foreign investments was brought to attention and the companies from Bosnia and Herzegovina were invited to active cooperation.
Borjana Kristo emphasized the importance of expanding mutual economic and trade relations and stressed that Azerbaijan is a reliable partner and the support provided by our country during the floods in Bosnia and Herzegovina was highly appreciated. The interest of the companies from Bosnia and Herzegovina in the economy of Azerbaijan was expressed during the conversation.
Ideas were exchanged at the meeting with the Minister of Foreign Trade and Economic Relations of Bosnia and Herzegovina, Staša Kosarač on increasing mutual investments and direct contacts between business circles. It was mentioned that there are opportunities for expanding relations between our countries in investment, transport-logistics, trade, industry, agriculture, tourism, pharmaceutical and other fields. Minister Mikayil Jabbarov drew attention to the successes achieved in non-oil exports as a result of the work done to stimulate entrepreneurship and increase competitiveness in Azerbaijan, support mechanisms for small and medium businesses and other measures, and emphasized that the market of Bosnia and Herzegovina opens attractive and new opportunities for Azerbaijani entrepreneurs in terms of expanding the export geography. Staša Kosarač shared his views on the prospects for strengthening bilateral economic relations, encouraging investment, and exchanging mutual experience in the non-oil sector.
The prospects for the development of economic relations between our countries were discussed during the meeting of the Minister of Economy Mikayil Jabbarov with the Prime Minister of the Federation of Bosnia and Herzegovina Fadil Novalić. Information was given on the development of our territories liberated from occupation, the infrastructure projects implemented in the Karabakh region, restoration and construction works, as well as the investment potential and rich natural resources of these territories, the favorable investment environment created for investors, concessions and sectoral opportunities.
Fadil Novalic emphasized that his country is interested in expanding cooperation with Azerbaijan, and that relations are developing in an upward trend. It was stated that Bosnia and Herzegovina highly values the energy projects implemented at the initiative of Azerbaijan in terms of ensuring the energy security of Europe. It was pointed out during the conversation that Bosnia and Herzegovina is interested in cooperation with Azerbaijan in various fields of the economy, including energy.
Views were exchanged at the meeting held with the delegation from the Serbian Republic of Bosnia and Herzegovina on priority directions of economic relations with Azerbaijan, prospects in the field of promotion of investments and trade relations.
A Memorandum of Understanding on cooperation was signed within the framework of the visit, between the Chamber of Commerce and Industry of the Republic of Azerbaijan and the Foreign Trade Chamber of Bosnia and Herzegovina. The Memorandum was signed by the Minister of Economy of the Republic of Azerbaijan Mikayil Jabbarov and the President of the Foreign Trade Chamber of Bosnia and Herzegovina Zdravko Marinkovic. The document will create additional opportunities to develop economic and trade relations between the two countries.
