(MENAFN- AzerNews) Nazrin Abdul, AZERNEWS
In a bid to bolster their bilateral ties, Azerbaijanand Slovakia have intensified efforts to enhance cooperation acrossvarious sectors, marking significant strides towards mutualprosperity.
President Ilham Aliyev welcomed Slovak Prime MinisterRobert Fico during his visit to Azerbaijan on May 7, highlightingthe significance of this meeting as a catalyst for a new chapter inSlovakia-Azerbaijan relations.
Within this pivotal meeting, several foundationalagreements were inked, including the“Joint Declaration on theEstablishment of Strategic Partnership between the Republic ofAzerbaijan and the Slovak Republic”,“Memorandum of Understandingbetween the Ministry of Defense Industry of the Republic ofAzerbaijan and the Ministry of Defense of the Slovak Republic inthe field of Military-Technical Cooperation” and“Agreement betweenthe Ministry of Defense of the Republic of Azerbaijan and theMinistry of Defense of the Slovak Republic on DefenseCooperation”.
With Azerbaijan's strategic geographical positionlinking Europe and Asia complemented by Slovakia's pivotal role inCentral Europe, both nations envision promising opportunities forenhanced trade and commercial collaboration. Prime Minister RobertFico echoed this sentiment, expressing readiness to serve as aconduit between the European Union and Azerbaijan, aiming toprovide an objective portrayal of Azerbaijan within the EU.
“We are ready to become a bridge between Azerbaijan and theEuropean Union,” Prime Minister of Slovakia Robert Fico said in ajoint press conference with President Ilham Aliyev.
"We want to present the objective situation in Azerbaijan to theEuropean Union," the Prime Minister added.
During the discussions, President Aliyev addressed theimperative of ensuring reliable transportation of Azerbaijaninatural gas to Europe. Highlighting plans to increase gas supplyfrom 8 to 12 billion cubic meters this year, constituting 50% ofAzerbaijan's total gas exports, President Aliyev reiteratedambitions to transport 20 billion cubic meters of gas to theEuropean Union by the end of 2027.
According to Azerbaijani President Ilham Aliyev "Azerbaijanpresently exports its natural gas to 8 countries, with Slovakiapoised to become the 9th destination. In April of last year, the'Ring of Solidarity' agreement was signed, paving the way for thetransportation of Azerbaijani gas to the Slovakian market, therebycreating promising opportunities for bilateral energycooperation."
Economic ties between Azerbaijan and Slovakia continue toburgeon as both nations collaborate on regional and global issuesof mutual interest. The Azerbaijani President announced that thereconstruction of the Garvand village in Aghdam will be undertakenby a Slovak company, emphasizing the symbolic significance of thiscollaboration.
The project, guided by the principles of "smart city" and "smartvillage," is poised to meet the highest modern standards, offeringa beacon of hope for the returning populace.
Moreover, the Azerbaijan-Slovakia Business Forum held in Bakuwitnessed the signing of two pivotal documents. Minister of EconomyMikayil Jabbarov highlighted the concerted efforts to bolsterbilateral relations, underscoring the expansion of the legalframework with the signing of 11 significant documents between thetwo nations.
Of notable significance is the "Agreement on EconomicCooperation between the Government of the Republic of Azerbaijanand the Government of the Slovak Republic," signed in October 2021,fostering collaboration across various sectors including industry,construction, transport, logistics, investment promotion, andenergy.
Furthermore, an agreement aimed at preventing double taxation,signed in 2023, is poised to enhance the business environmentbetween Azerbaijan and Slovakia. The Joint Declaration on StrategicPartnership between the two countries, currently underconsideration, holds promise for deeper economic ties.
In her address at the Business Forum, Deputy Prime Minister andMinister of Economy Denisa Sakova of Slovakia affirmed that theJoint Declaration on Strategic Partnership would serve as anothermilestone in deepening economic relations between Azerbaijan andSlovakia. She highlighted the role of the documents signed insimplifying trade cooperation and facilitating market entry forcompanies from both nations.
Sakova emphasized the transformative potential of the documentsinked, noting their facilitation of trade cooperation and theopening of new avenues for companies to engage in both markets, 37 Slovak companies and institutions participated in theforum, underscoring the keen interest in forging new partnershipsand strengthening existing ones.
Among the agreements signed to reinforce bilateral relations,two memoranda stand out. Firstly, a memorandum of cooperationbetween the Azerbaijan Investment Company and the Slovak Export andImport Bank (EXIMBANKA), is poised to enhance financialcollaboration. Secondly, a memorandum of cooperation betweenSlovakian firm "SEAK Energetics" and "ITECH GROUP" LLC fromAzerbaijan, promising collaborative ventures in the energy sectorand beyond.
In essence, the documents signed today herald a new chapter inthe Azerbaijan-Slovakia partnership, reflecting a shared commitmentto mutual growth, prosperity, and enduring friendship.
In a recent statement to journalists at the Azerbaijan-Slovakiabusiness forum in Baku, Yusif Abdullayev, the executive director ofAzerbaijan Republic's Export and Investment Promotion Agency(AZPROMO), highlighted the ongoing development of relations betweenthe two nations.
Abdullayev acknowledged the current modest tradefigures between Azerbaijan and Slovakia. He emphasized with over 90representatives from various companies participating in the forum,Abdullayev emphasized the potential for significant expansion inbilateral cooperation.
"Unfortunately, our trade figures are not high. Only 7Slovak companies operate in Azerbaijan. After the forum weorganized in Baku, our trade relations will develop further. Intotal, more than 90 company representatives are participating inthis forum. This business forum is the visit of the Prime Ministerof Slovakia to Azerbaijan. We believe that cooperation in the fieldof industry, agriculture and IT will develop."
Despite the existing small volume of exports betweenthe two countries, Abdullayev stressed the importance of expandingtrade, not only in terms of products but also services. Lookingahead, both Azerbaijan and Slovakia anticipate a mutuallybeneficial partnership that will drive economic growth andprosperity for both nations.
He emphasized that the Azerbaijan-Slovakia BusinessForum convened today marks the dawn of fresh avenues andopportunities for collaboration between the two nations. "Ourpartnership with Slovakia has been robust and fruitful. Over thepast 15 years, we have witnessed a multitude of joint initiativesheld both here in Azerbaijan and Slovakia," he remarked.
In his address, Y. Abdullayev extended a warminvitation to his counterparts to partake in the 29th session ofthe Conference of the Parties to the UN Framework Convention onClimate Change (COP29), slated to convene in Baku thisNovember.
As Azerbaijan and Slovakia deepen their partnership,prospects for enhanced cooperation are on the horizon. Leveragingtheir respective strengths and exploring new avenues ofcollaboration, both nations are poised to reap the rewards of theirburgeoning relationship. With a shared commitment to prosperity anddevelopment, Azerbaijan and Slovakia are primed to chart a coursetowards a mutually beneficial future.
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