TODAY.AZ / Business

Country's trading house may appear in Montenegro

01 July 2019 [10:15] - TODAY.AZ

By Azernews


By Mirsaid Ibrahimzade

Azerbaijan and Montenegro reap benefits from successful cooperation in the fields of energy, tourism, real estate and banking. Local investors are interested in investing in Montenegro which has a potential to become one of the major directions of Azerbaijan’s investments.

Sahil Babayev, Azerbaijani Minister of Labor and Social Protection of the Population, has told Trend that the Azerbaijani government has keen interest in broadening the network of trading houses within Europe and also considers a possibility to open a trading house in Montenegro.

He said that this issue can be implemented in practice following an analysis, investigations and existence of demand for Azerbaijani products in this market.

The minister noted that Azerbaijan is ready to consider the issue of expanding the network of its trading houses on the European continent and, in particular, in Montenegro, if the potential of bilateral cooperation allows actively promoting Azerbaijan’s products in the Balkans.

Further, he added that presently Azerbaijan and Montenegro are engaged in joint financial and tourism infrastructure projects, and there is a plan to implement new projects, including alternative energy and infrastructure projects.

Moreover, emphasizing 17 cooperation agreements signed between Azerbaijan and Montenegro, Sahil Babayev stressed that five agreements are already at the stage of consideration and discussion, so the Azerbaijani side expects a growth in the number of interstate agreements in the near future.

It is noteworthy that currently, Montenegro enjoys cooperation with Azerbaijan in the energy sector. It is currently based on activities related to the Ionian-Adriatic Pipeline (IAP).  IAP, which is expected to be connected to the Trans Adriatic Pipeline (TAP), will pass through Montenegro as well.

IAP is a proposed natural gas pipeline in Southeastern Europe that will stretch from Albania through Montenegro and Bosnia and Herzegovina to Split in Croatia. The capacity of the pipeline will amount to 5 billion cubic meters of gas per year.

Montenegro is also interested in joint participation with Azerbaijan in renewable energy projects, particularly on the use of solar energy.

URL: http://www.today.az/news/business/184022.html

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