With its great potential for energy supply, Azerbaijan is becoming an increasingly important partner for both the European Union and Germany, which is among the few European countries that enjoy maximally diversified economic ties with Baku.
In order to further promote economic cooperation and investment opportunities between the two countries, a delegation of the Confederation of Entrepreneurs of Azerbaijan (ASK Germany) signed on Wednesday in Berlin an MoU with the German Federal Association for Economic Development and Foreign Trade (BWA).
Founded in 2003, BWA brings together leaders from science, business, and public life who defend the ecological-social market economy and is an official sponsor of the World Trade Points Federation (WTPF) – a global project database for entrepreneurs – in Germany in cooperation with the United Nations Conference on Trade and Development (UNCTAD).
The main purpose of the MoU – which seeks to promote better understanding and cooperation between the two business communities by creating a framework for joint initiatives, projects, and events – is to expand cooperation in the fields of investment, import-export, and mutual business projects.
According to the head of the German representative office of ASK, Elnur Huseynov, this strategic partnership between ASK Germany and BWA is expected to create new opportunities for investment and business cooperation in the future and is an important step forward in the development of economic partnerships between Azerbaijan and Germany.
Previously this month, Azeri President Ilham Aliyev met with German Chancellor Olaf Scholz in Berlin and with around 30 German companies that have shown great interest in Azerbaijan and its economy.
During Scholz- Aliyev meeting, a particular accent was put on the MoU on Strategic Partnership in the field of energy security Azerbaijan signed with the EU last year.
In addition to the energy component, Baku and Berlin are developing very dynamically their cooperation in different areas of the non-oil sector and in major industrial projects.
