Jabbarov outlines priority areas for Azerbaijan-Slovakia cooperation

Jabbarov outlines priority areas for Azerbaijan-Slovakia cooperation

In cases where joint projects with Slovak enterprises are considered in Slovakia or third countries, the Azerbaijani government will provide broad support for such initiatives and ensure that Azerbaijani business entities have access to the necessary resources and tools, Azerbaijani Minister of Economy Mikayil Jabbarov shared this insight at the Azerbaijan-Slovakia business forum in Baku, Report informs.

Addressing Azerbaijani entrepreneurs, Jabbarov highlighted that Slovak companies possess strong expertise, know-how, and knowledge potential particularly in the fields of digital technologies and information technology, metallurgy, agriculture (especially precision and smart farming), and pharmaceuticals: "We truly encourage you to think about forming more active business relations. I would also like to emphasize additional cooperation prospects in these areas to ensure mutual progress and innovation. Slovakia is considered an important partner of Azerbaijan."

The minister noted that the Azerbaijani government implements various financial incentives for investors, including tax and customs exemptions: "For example, free economic zones operate under a zero-tax regime. Similarly, zero customs duties apply to economic zones, and the same zero rate extends to Azerbaijanchr("39")s liberated territories as well as Nakhchivan.

Nakhchivan is Azerbaijanchr("39")s autonomous region, and within the framework of the Zangazur Corridor project, we are working to re-establish land connectivity with this integral part of the country. This corridor is also referred to as the Trump Route for International Peace and Prosperity (TRIPP).

He added that Azerbaijan is the only country in the world that simultaneously shares borders with both Russia and Iran, a geographical position that provides significant economic advantages.

Jabbarov underlined that the Azerbaijan Export and Investment Promotion Agency (AZPROMO) is a special structure of the government and the Ministry of Economy in terms of providing information and services to investors:

"It is fully authorized to deliver high-level services to investors, respond to information requests, and identify investment prospects. I hope that through joint efforts we can contribute to the growth of our trade turnover and economic investment, and more importantly, strengthen trust-based relations between people."