Bulgaria-Azerbaijan business forum held

A Bulgaria-Azerbaijan business forum was held in Sofia within the framework of the 7th meeting of the Azerbaijan-Bulgaria Intergovernmental Commission on Economic Cooperation. The event was attended by officials of state agencies from both countries, as well as representatives of companies representing agriculture, economy, energy, information and communication technologies, food, light industry, scientific and technical and humanitarian, social, healthcare, environment, tourism and other sectors.

Opening the event with an introductory speech, Bulgarian Deputy Minister of Energy Iva Petrova noted that strategic cooperation relations with Azerbaijan, which are developing positively in accordance with the interests of both countries, have already reached a new level. Bulgarian government is actively cooperating with Azerbaijan to diversify its natural gas supply and increase energy security in the region: "In the context of European goals, the Bulgarian government is interested in developing gas infrastructure, expanding the national gas transmission network and expanding relations with neighboring countries in order to create an interconnected and unified pan-European gas market. In this direction, our partnership with Azerbaijan plays a key role in ensuring energy independence and security," Bulgarian Deputy Minister of Energy emphasized.

Speaking at the forum, Co-Chair of the Azerbaijan-Bulgaria Joint Intergovernmental Commission on Economic Cooperation, Minister of Agriculture Majnun Mammadov reported on the reforms implemented in our country to diversify the economy. Calling Bulgaria an active participant in Azerbaijan's global energy projects, the minister said that cooperation in the energy sector, including green energy, is an important factor in strengthening energy security not only for Bulgaria, but also for the entire European region. Minister Majnun Mammadov added that, in addition to energy, there are many other sectors with significant potential for developing economic relations, including agriculture, food processing, tourism and international freight transportation. Minister called on businessmen to explore new cooperation opportunities.

The forum discussed the expansion of mutual investment and trade relations between Azerbaijan and Bulgaria and the identification of new cooperation prospects.

Speaking at the event, Executive Director of the Bulgarian Agency for the Promotion of Small and Medium-sized Enterprises Boyko Takov and Executive Director of the Export and Investment Promotion Agency of the Republic of Azerbaijan (AZPROMO) Yusif Abdullayev provided information on the business environment in Bulgaria and Azerbaijan, the work done to support entrepreneurship, and spoke about the economic priorities of both countries and the opportunities created for foreign investors.

Then, presentations were made on the investment environment in Bulgaria and Azerbaijan.

Bilateral meetings were organized between businessmen within the framework of the business forum, and opportunities for expanding business relations are being discussed.