Baku, Bucharest set to promote business ties

By Ayya Lmahamad

An Azerbaijani-Romanian business forum took place in Baku on September 9, Azernews reports.

The forum organized with the support of the Azerbaijani Economy Ministry, the Export and Investment Promotion Agency (AZPROMO), the Association of Women Entrepreneurship Development, and the Romanian Chamber of Commerce and Industry was attended by entrepreneurs and representatives of relevant government agencies from both countries.

Speaking at the forum, Azerbaijan's Small and Medium Business Development Agency (SMBDA) Board Chairman Orkhan Mammadov noted that work is underway to further expand business ties with Romania.

He emphasized that the agency can provide support in such directions as coordination with relevant structures and identification of local partners to Azerbaijani and Romanian entrepreneurs wishing to implement joint projects.

Azerbaijan and Romania are cooperating in various spheres of the economy. The two countries established diplomatic relations on June 19, 1992. The embassy of Romania in Azerbaijan was opened on November 3, 1998, and the embassy of Azerbaijan in Romania on May 19, 2001.

The trade turnover between the two countries amounted to $215.5 million in 2021, with exports amounting to $120.5 million, and imports to $94.9 million.