TODAY.AZ / Business

Azerbaijan, Serbia see 33pct growth in trad

10 December 2018 [14:24] - TODAY.AZ
By Azernews

By Leman Mammadova

The Azerbaijan-Serbia bilateral relation develop in all areas, and the potential of cooperation is estimated at a high level.

The fifth meeting of the Azerbaijan-Serbia intergovernmental commission on trade and economic cooperation was held in Serbia.

Azerbaijani delegation headed by Co-Chair of the Azerbaijan-Serbia Intergovernmental Commission on Trade and Economic Cooperation, Azerbaijani Minister of Economy Shahin Mustafayev visited the country. 

Prior to the meeting of the intergovernmental commission with the participation of delegations led by co-chairs of the commission – Shahin Mustafayev and deputy Prime Minister of Serbia, Minister of Trade, Tourism and Telecommunications Rasim Ljajic - a round table meeting was held with participation of Serbian companies.

During the meeting, the participants were informed about the favorable business and investment environment created in Azerbaijan, as well as the development of relations between the business circles of Azerbaijan and Serbia, expansion of bilateral cooperation in the business sphere.

On the same day, the fifth meeting of the intergovernmental commission was held.

Speaking at the meeting, Mustafayev noted that the relations between Azerbaijan and Serbia are based on the principles of mutual friendship and respect, and the heads of state of both countries attach great importance to cooperation.

The Azerbaijani minister stressed the importance of the visit of country's President Ilham Aliyev to Serbia in 2011 and President of Serbia Aleksandar Vucic to Azerbaijan in 2018 in the development of bilateral cooperation.

So far, more than 30 documents have been signed with Serbia on trade-economic, investment promotion and taxation. 

The Declaration on Friendship and Strategic Partnership between Azerbaijan and Serbia signed in 2013 and the Joint Action Plan on Strategic Cooperation between Azerbaijan and Serbia signed in May 2018 are the key documents that determine the nature of bilateral cooperation, he said.

During the last visit of the Serbian president to Azerbaijan, a number of important documents were signed in the fields of medicine and medical education, plant protection, international freight and air communications, and an Azerbaijani-Serbian business meeting was held, he added.

It was noted that trade relations are one of the main directions of cooperation between the countries. In 2017, the trade turnover between Azerbaijan and Serbia increased by 36 percent and in the first nine months of 2018 - by 33 percent.

Azerbaijan and Serbia are making mutual investments, Mustafayev said.

Azerbaijani company Azvirt participates in infrastructure projects in Serbia, he noted, adding that cooperation in the field of tourism is also developing.

In 2017, the number of Serbian citizens visiting Azerbaijan increased by 14 percent, he said.

Mustafayev went on to say that citizens of Azerbaijan can visit Serbia without a visa, while citizens of Serbia can use the opportunities of the ASAN Visa system during their visit to Azerbaijan.

As for cooperation in the humanitarian sphere, the Azerbaijani minister noted that since 2018, the Center for the Azerbaijani Language and Culture has been operating at the University of Belgrade, and the Center for the Serbian Language and Culture has been operating at the Azerbaijan University of Languages.

In turn, Ljajic in his speech stressed that Serbia attaches great importance to relations with Azerbaijan.

He noted the expansion of trade and economic cooperation, the possibility of interaction in the fields of energy, agriculture, infrastructure, ICT, tourism and others.

Following the fifth meeting of the intergovernmental commission on trade and economic cooperation between Azerbaijan and Serbia, a protocol was signed by Shahin Mustafayev and Rasim Ljajic.

The document provides for the continuation and expansion of cooperation in trade and economic, investment, financial, industrial, energy, transport, infrastructure, agriculture, SMEs, ICT, education, healthcare, ecology, tourism, culture, youth, sports and other spheres.

During the visit to Serbia, the Azerbaijani delegation also met with Minister of Healthcare Zlatibor Loncar. At the meeting, information was provided on the possibilities of the Pirallahi Industrial Park created in Azerbaijan, and issues of cooperation with Serbian companies in the field of healthcare were discussed.

It should be noted that AzVirt implemented the major road project in Serbia based on the document signed between Azerbaijan and Serbia in 2012. In 2012, the government of Azerbaijan provided a 308 million euro loan for a period of 25 years with a three-year grace period at a rate of four percent per annum for the construction of the highway in Serbia. The loan financed the construction of the Ljig-Boljkovci, Boljkovci-Takovo, and Takovo-Preljina sections of E-763 highway. Meanwhile, AzVIRT plans to implement the second major road project in Serbia.

The visa regime with Azerbaijan was abolished on June 2, 2018.

Diplomatic relations between the two countries were established on August 21, 1997. Over all these years, the countries have been successfully cooperating within international organizations and enjoyed sustainable development of ties in many spheres, such as political, economic, scientific, cultural and humanitarian fields.

Serbia is interested in the operation of Azerbaijani companies in the country. The country stated that Azerbaijan can invest in any sphere in Serbia and Serbia is ready to provide Azerbaijani companies with various privileges, preferences and subsidies in the amount of 15 to 20 percent depending on the amount of investments.

Azerbaijan’s trade turnover with Serbia amounted to $ 5.5 million in 2017, which is 36 percent more than in 2016, according to Azerbaijan’s State Customs Committee. Almost the entire volume of the trade turnover accounted for the imports of Serbian products to Azerbaijan. Azerbaijani export to Serbia amounted to $ 18,000 while imports to Azerbaijan made $ 5,48 million.













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