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In the News

Azerbaijan, Argentina boosting economic cooperation


July 12, 2013

By Nigar Orujova

Argentina and Azerbaijan have reached preliminary agreement to establish a joint working group on trade and economic cooperation and hold its first meeting in December 2013.

Views were exchanged on establishing the taskforce in accordance with the intergovernmental agreement on trade and economic cooperation at a meeting of Economic Development Minister Shahin Mustafayev with Argentina's Ambassador to Azerbaijan Carlos Dante Riva on July 11.

The sides, which discussed prospects of expanding cooperation, also reached preliminary agreement on organizing a forum of businessmen from both countries.

Minister Mustafayev stressed the successful development of bilateral relations in recent years and the importance of mutual visits and meetings for the expansion of ties.

According to him, Azerbaijan and Argentina have created the necessary legal framework and signed 18 economic documents.

He also suggested establishing joint production and processing enterprises, noting the great potential for expansion of cooperation, in particular in the agricultural sector.

The sides also discussed issues of cooperation in the ICT sector as well as tourism, medicine production, construction, and alternative energy issues.

As a result of the development of economic relations Argentinean opportunities to enter the region through Azerbaijan can be expanded, and Azerbaijan could access Latin America through Argentina.

Ambassador Riva, in turn, welcomed the dynamic development of Azerbaijan, noting that his country attaches great importance to its cooperation with Azerbaijan and he will make every effort to develop bilateral relations.

Argentina's first ambassador to Azerbaijan arrived in Baku in April. The embassy of Argentina was established in 2012.

Argentina and Azerbaijan are currently developing cooperation in ICT. Argentina's high-technology company INVAP, engaged in the construction and delivery of complex equipment, earlier expressed readiness to contribute to the development of the space industry in Azerbaijan .

Moreover, Argentinean companies in the future will be able to take advantage of the State Fund for Development of Information Communication Technologies, Hi-Tech Park and the ICT University of the country.

Argentinean companies have also been invited to participate in the Bakutel-2013 exhibition.

Argentina and Azerbaijan are also interested in joint development of agriculture in both countries.

Recently Argentina achieved good results in the development of agriculture with the aid of modern technologies and intends to share this experience with Azerbaijan.

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