TODAY.AZ / Business

Czech Republic looks to expand its presence in Azerbaijan's transport, energy sectors

24 January 2023 [18:19] - TODAY.AZ

By Trend

The Czech Republic is exploring opportunities to expand its presence in the transport connectivity and energy sectors in Azerbaijan, Jaroslav Kurfürst, Deputy Minister of Foreign Affairs of the Czech Republic, told Trend exclusively.

"In the previous decade, the most important Czech investment projects in Azerbaijan were in the field of transport infrastructure. Our flagship project, the reconstruction of the Azerbaijani part of the Baku-Tbilisi-Kars Railway Corridor, was completed by a group of our companies led by Moravia Steel in 2019. As we are approaching a new and very different era, we are hoping for new investment opportunities for our companies in Azerbaijan in the sphere of connectivity and energy," he said.

According to the deputy minister, the cooperation between Azerbaijan and the Czech Republic in the energy field is of strategic importance.

"A pilot project completed by Czech companies in the Garavalli village school in the Shamakhi region in 2018 was aimed at raising awareness about the efficient use of energy resources. We consider bilateral cooperation in these areas important; therefore the Czech-Azerbaijani Agreement on Cooperation in the Field of Energy was signed during the visit of our Minister of Foreign Affairs in Baku in September 2021," he said.

The implementation of the Agreement may boost the bilateral cooperation in the field of diversification of the energy supplies, as well as the involvement of Czech companies in projects focusing on energy efficiency and renewables, Kurfürst noted.

Meanwhile, the Czech Republic has also been talking about activities promoting economic and trade cooperation with relevant Azerbaijani institutions, Kurfürst noted.

"Several projects are in the initial stage of discussion. We believe that the upcoming 5th Session of the Joint Commission on Economic, Scientific-Technical and Cultural Cooperation and accompanying business forum in Prague in early March will provide further momentum," he concluded.

URL: http://www.today.az/news/business/230906.html

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