Argentina may be a window for starting up commercial enterprise by Azerbaijani businessmen in the region of South America, Azerbaijani Economic Development Minister, Shahin Mustafayev said during the Azerbaijan-Argentine business forum in Baku on Tuesday.
He said there is no broad regulatory framework for full economic development between the two countries yet.
"However, serious work is underway in this direction. At present, an intergovernmental agreement on cooperation in the trade and economic areas and promotion of mutual investments is being prepared and coordinated. The first agreement envisages the creation of a relevant working group," Mustafayev said.
He said at present indicators of economic relations between the two countries are small, but the political will and availability of great potential of the economies of both countries speaks volumes about their increase.
According to Mustafayev, work in such spheres of the Argentine economy, such as various sectors of industry, agriculture, tourism, information technology, alternative energy and others could be interesting for Azerbaijani entrepreneurs.
In turn, there are ample opportunities for Argentina to work in the processing of agricultural products, exports of agricultural machinery, food industry and other fields.
According to the Foreign Minister of Argentina, Hector Timerman, joint projects in energy, food and agriculture are possible between the parties.
"Azerbaijan's energy sector is highly developed, while the agricultural sector is developed in Argentina, so the two countries' economies can supplement each other," Timerman told reporters.
He said the Argentinian entrepreneurs wide interest in this business forum speaks about the level of economic development of Azerbaijan and its role in the global economy.
The business forum is also being attended by Secretary of State for Internal Trade of Argentina, Guillermo Moreno and about 300 Argentine entrepreneurs.