Azerbaijani delegation tours Montenegro, eyes joint ventures in tourism and trade PHOTO

A delegation of Azerbaijani business representatives recently embarked on a business trip to Montenegro, aiming to deepen economic ties and explore new opportunities for cooperation between the two countries.

According to Azerbaijan’s Export and Investment Promotion Agency (AZPROMO), five companies from key sectors — including tourism, ICT, agriculture, construction, and trade — participated in the visit, Caliber.Az reports.

Throughout the trip, the delegation held a series of high-level meetings focused on evaluating prospects for joint ventures and expanding trade and investment cooperation, with a particular emphasis on the tourism sector.

AZPROMO Executive Director Yusif Abdullayev and Montenegro’s Investment Agency Director Snezana Djuric discussed strategies to enhance investment promotion and ensure investor protections in both countries.

The two sides agreed to formalise their cooperation through a Memorandum of Understanding, expected to be signed at the upcoming First Azerbaijan International Investment Forum later this year. This MoU will establish a clear legal framework for future collaboration between the agencies.

The Azerbaijani delegation also toured prominent tourist attractions in Montenegro, gaining insight into the region’s infrastructure and business environment.

One key meeting took place with Marco Cus, CEO of the Kotor Cable Car, where discussions focused on potential collaboration in replicating similar infrastructure projects in Azerbaijan’s tourism and transportation sectors, particularly in the Karabakh region.

The successful example of the Kotor cable car sparked interest among Azerbaijani officials, and Cus was invited to the upcoming Investment Forum to explore investment possibilities and assess project feasibility in Azerbaijan’s liberated territories.

The delegation further explored the Kolasin ski resort, examining its tourist facilities and infrastructure. Talks included ways to attract investment for comparable recreation projects in Azerbaijan, highlighting opportunities to develop the country’s tourism potential.

Discussions also covered establishing public-private partnerships, creating investor-friendly conditions, and facilitating experience sharing to enhance cooperation between the two nations.

By Tamilla Hasanova