Azerbaijan, Spain strengthen trade relations with new economic agreement

In a recent meeting held in Baku, the Azerbaijan Export and Investment Promotion Agency (AZPROMO) and leading Spanish institutions explored opportunities for expanding trade and investment relations between the two nations.

The meeting, led by AZPROMO's Executive Director, Yusif Abdullayev, brought together representatives from the Spanish Chamber of Commerce and Industry, the Spanish Confederation of Employers' Organizations (CEOE), and key stakeholders from both sides, Caliber.Az has learnt from AZPROMO.

Abdullayev emphasized Azerbaijan's strategic position, highlighting the country's transit potential as a gateway for Spanish companies to expand their operations. He pointed out that Azerbaijan’s growing industrial base is eager to adopt Spain’s technological solutions and foster the transfer of technology in various sectors.

Marta Blanco, President of the International Relations Committee of CEOE, praised AZPROMO’s efforts in enhancing the business ties between the two countries. She noted the importance of boosting Azerbaijan’s exports to Spain, advocating for increased participation of Azerbaijani exporters in Spanish trade exhibitions to raise visibility and drive further collaboration.

Meanwhile, Inmaculada Riera, General Executive Director of the Spanish Chamber of Commerce and Industry, discussed opportunities in the agriculture sector, highlighting how Azerbaijani farms could benefit from Spain's advanced agricultural practices. This exchange of knowledge could potentially improve agricultural productivity and efficiency in Azerbaijan.

The event also featured a significant development: the signing of the Protocol of the first meeting of the Strategic Economic Dialogue between Azerbaijan and Spain. This marks an important step towards solidifying the two countries' growing economic partnership.

The Azerbaijan-Spain business forum, which was organized with support from Azerbaijan's Ministry of Economy and Spain’s Ministry of Economy, Commerce, and Business, gathered over 90 companies from various sectors, including energy, construction, logistics, and infrastructure. Participants engaged in B2G sessions covering key topics such as energy sustainability, water management, and digital transformation.

As the forum wrapped up, the focus shifted to future collaboration, with a promise to exchange information on trade and investment opportunities, ensuring both countries continue to leverage their strengths in order to foster mutual growth and development.