AZPROMO inks deal with US organizations

By Azernews

By Ayya Lmahamad

Azerbaijan’s Export and Investment Promotion Foundation (AZPROMO), the United States Agency for International Development (USAID), and the United States-Azerbaijan Chamber of Commerce (USACC) have signed a memorandum on trilateral cooperation.

The document was signed during the business meeting held in Baku on June 9 and reflects the issues of export and promotion of agricultural products produced in Azerbaijan to new markets and the expansion of foreign investment in Azerbaijan’s economy.

Addressing the meeting, AZPROMO’s Head Yusif Abdullayev, USAID Azerbaijan Mission Director Jaidev Singh, and USACC Chairman Reza Vaziri spoke about trade relations between Azerbaijan and the United States.

The parties emphasized that trilateral cooperation will contribute to the development of economic relations between the two countries and discussed the prospects for mutual trade and investment cooperation.

Abdullayev briefed the participants on the reforms implemented in Azerbaijan to further improve the business and investment climate. In addition, he spoke about the activities of the organization and the work done to attract foreign investors.

The Azerbaijan Export and Investment Promotion Foundation (AZPROMO) is a joint public-private initiative, established by the Azerbaijani Economy Ministry in 2003 with the aim to contribute to economic development through attracting foreign investments and stimulating exports in the non-oil sector.