Sofia: Participants in a Bulgaria-Azerbaijan Business Forum featuring B2B meetings discussed in Sofia on Thursday ways to deepen and expand economic ties beyond the energy sector.
According to Azerbaijan State News Agency, the event brought together representatives of 80 Bulgarian companies and 25 companies from Azerbaijan. It was organized by the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA) and the Azerbaijan Export and Investment Promotion Agency, with support from Bulgaria’s Energy Ministry.
Earlier in the day, the Joint Intergovernmental Commission between Bulgaria and Azerbaijan held its 7th meeting, hosted in Sofia and co-chaired by Bulgaria’s Energy Minister Zhecho Stankov. Deputy Energy Minister Iva Petrova remarked at the forum that the strategic partnership with Azerbaijan has reached a new level, presenting an opportunity to strengthen ties. She emphasized the energy sector’s continued importance, noting Azerbaijan’s role in Bulgaria’s efforts to diversify natural gas supplies and its significance for regional energy security.
Agriculture Minister Majnun Mammadov reflected on 30 years of diplomatic relations between Azerbaijan and Bulgaria, emphasizing the need to further develop these relations. The discussions at the Joint Intergovernmental Commission were described as productive, covering sectors such as trade, energy, agriculture, tourism, education, and social protection.
Mammadov also underscored Azerbaijan’s aim to diversify its economic growth drivers beyond energy, focusing on trade, investment, and technology transfer. He identified priority sectors like agriculture, digitalization, and sustainable development, and noted Azerbaijan’s favorable environment for foreign companies.
BSMEPA Executive Director Boyko Takov highlighted the potential for collaboration between the two countries, mentioning areas such as industrial equipment, engineering solutions, food processing, pharmaceuticals, logistics, and IT. He emphasized advancing relations from trade to partnership and from import/export to joint investments and innovation.
Yusif Abdullayev, Executive Director of the Export and Investment Promotion Agency of Azerbaijan, pointed out the forum’s focus on diversifying growth sources beyond oil and gas. He identified opportunities to deepen ties in sectors like industry, agriculture, and food production, and mentioned Azerbaijan’s openness to ICT cooperation. He highlighted the special economic zones and duty-free zones, particularly the ALAT Free Economic Zone, as crucial elements of Azerbaijan’s business environment.