Baku, Prague Mull Energy Co-Op Amid Preparing For Setting Up Joint Working Group
(MENAFN- AzerNews)
By Ayya Lmahamad
Azerbaijan and the Czech Republic have discussed the energy
cooperation issues between the two countries, Azernews reports,
citing the energy Ministry.
The discussion took place during the meeting between
Azerbaijan's Energy Minister Parviz Shahbazov and outgoing Czech
Ambassador Milan Ekert.
At the meeting, the parties discussed the energy cooperation
agreement signed between Azerbaijan's Energy Ministry and Czech
Republic's industry and Trade Ministry.
They also exchanged views on the establishment of a joint
working group and holding its first meeting.
On September 30, 2021, Azerbaijan and the Czech Republic signed
an agreement on energy cooperation. The agreement envisages the
expansion of bilateral cooperation in the spheres of oil and gas,
petrochemicals, renewable energy, including bioenergy in the field
of energy, and the establishment of relations between the relevant
sectors in line with both countries' national legislation. The
document also covers the development of energy efficiency and
energy-saving cooperation in the residential sector and large
energy enterprises, and the matters such as the mutual exchange of
information and practices, training sessions, joint seminars,
conferences, and forums.
Azerbaijan and the Czech Republic cooperate in different spheres
of the economy. Around 30 companies with the Czech capital
operating in Azerbaijan. The Czech Republic had invested $37.2
million in Azerbaijan, while Azerbaijan's investment in the Czech
Republic amounted to $48.2 million during the period from 1995 to
2021.
Incidentally, the trade turnover between Azerbaijan and the
Czech Republic amounted to $307.4 million in 2021.
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Ayya Lmahamad is AzerNews' staff journalist, follow her on
Twitter: @AyyaLmahamad
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