TODAY.AZ / Business

Spain’s MFA names co-op priorities with Azerbaijan in coming years

29 October 2022 [13:48] - TODAY.AZ

By Trend

Spanish companies are eager to take part in the growth of the Azerbaijani economy, the Ministry of Foreign Affairs of Spain told Trend.

According to the ministry, especially those Spanish companies engaged in the fields of infrastructure, agriculture, and energy could contribute the most.

The ministry noted the particular interest from Spanish companies to cooperate more in the green energy sector with Azerbaijan, as well as to further strengthen the existing partnership in the oil and gas field, as the current trade deficit between the two countries is decreasing, especially due to Spain’s hydrocarbon imports from Azerbaijan.

Moreover, in the coming years, Spain intends to increase cooperation with Azerbaijan in the tourism sector, the source said.

"Spain is one the biggest tourist destination in the world with 84 million visitors in 2019 and this activity represents 12 percent of our GDP. In this context, and as tourism is one of the options for the diversification of the Azerbaijani economy, it could greatly benefit from the experience of Spanish companies," the source added.

As the recent visit to Madrid of the Minister for Foreign Affairs of Azerbaijan Jeyhun Bayramov proves, the political relationship between Spain and Azerbaijan is excellent. This circumstance will pave the way for the exploitation of the full potential of the economic ties between the two countries, the ministry concluded.


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