Azerbaijan hosts business meeting with Baltic, Finnish companies Under LEF Network Project / Photo

A meeting with representatives from Latvian, Estonian, and Finnish companies has taken place in Baku as part of the LEF Network Azerbaijan project.

The event was organised with the support of the German-Azerbaijani Chamber of Commerce, Caliber.Az reports per local media.

The B2B meetings provided an opportunity for Azerbaijani and European companies to discuss potential areas of cooperation across various sectors.

The LEF Network Azerbaijan project aims to strengthen economic ties between Azerbaijan and the Baltic states, as well as Finland, with a particular focus on green technologies, information technology, and education.

To recall, the LEF Network Azerbaijan project seeks to bolster innovation and the bio-economy in the Central Baltic region by facilitating the export of services, expertise, and goods to Azerbaijan. This initiative aims to enhance the region’s sustainability and competitiveness.

Azerbaijan presents unique challenges due to its distinct market requirements, language, and business culture. Individual market entry can be difficult for enterprises, making collaborative efforts between businesses and support organisations a more efficient approach. By working together, companies can enter third-country markets more effectively and at a faster pace.

The project’s objective is to secure 10 sales agreements within 36 months between established SMEs from Finland, Estonia, and Latvia and Azerbaijani counterparts. Research indicates strong potential in key sectors, including ICT, green technologies, higher and lifelong education, interior design services, and interior design products.

To achieve this, the project will establish a joint support-service platform to facilitate exports from the Central Baltic region to Azerbaijan. At least 50 enterprises will receive non-financial support through this initiative.

Key export activities will include trade missions between Azerbaijan and the LEF countries, alongside business forums in both regions to foster connections and opportunities.

By Aghakazim Guliyev