Azerbaijan - USA Business Forum held

Azerbaijan-USA business forum held on October 16 with the support of the Ministry of Economy and organization of Azerbaijan Export and Investment Promotion Foundation (AZPROMO).

Apart from officials, about 150 business owners from both countries engaged in agriculture and food industry, finance, industry, ICT, health, construction, logistics and service fields attended the event.

Deputy of Minister of Economy Sahil Babayev making a speech at the business forum talked about the significance Azerbaijan attaches to the improvement of economic relationships in international scene and noted the importance of events organized with the participation of business communities in the enhancement of cooperation. Deputy Minister informed about Azerbaijan economy, favorable business and investment environment created in the country and Azerbaijan-USA economical relationships as well. He noted that from political and macroeconomic point of views Azerbaijan is the stable and consistently developing country, as well as a reliable partner in international stage and participant of large-scale regional energy and transport projects.

Deputy Minister informing about Azerbaijan-USA economical relationships notified that trade turnover between two countries for 8 month of 2017 with analogical period of last year increased for 7%. It was also noted that USA companies invested 12.7 bln.dollars in Azerbaijan economy till now, while Azerbaijan investment in USA comprised 3 bln.dollars. Sahil Babayev talking about successful relationships in industry, agriculture, education and other spheres, invited USA companies to take advantage of opportunities offered in industry parks and zones established in Azerbaijan.

Sahil Babayev informed the attendees about the measures carried out recently towards the enhancement of non-oil sector export and promotion of investments, emphasized the significance of export supportive mechanisms in improvement of foreign economical relationships and increase of export potential of Azerbaijan. It was noted that favorable environment is created for functioning of foreign companies in our country and USA companies may enhance their activity or carry out business projects taking advantage of these opportunities. Azerbaijan-USA business forum will be effective for establishing of direct relationships between business owners, as well as enhancement of cooperation.

The USA Ambassador in Azerbaijan Republic Robert Sekuta talked about the importance of effectively using existing potential for further enhancement of USA-Azerbaijan relationships, as well as the significance of improvement of cooperation between business owners for USA-Azerbaijan economic-trade partnerships and noted the development directions of economic relationships.

The Head of AZPROMO Rufat Mammadov made a presentation on business and investment environment in Azerbaijan and gave information on the measures carried out towards non-oil sector development, diversification of economy, stimulation of private sector, enhancement of export, promotion of “Made in Azerbaijan” brand and foreign investments, further improvement of business environment in the country.

Chief Commercial Advisor of USA Commerce Service Bill Chaykovski and Executive Director of USA-Azerbaijan Trade Board Susan Sadigova emphasized essential role of USA Board of Trade in Azerbaijan in the promotion of business relationships between the owners and enhancement of economical cooperation and noted the significance of held today business forum in establishing new relationships between businessmen.

The event proceeded to double-sided meetings with business owners, where discussed the issues related to the enhancement of relationships and establishing new business partnership.