By Azernews

By Ayya Lmahamad

From January to August 2022, the trade turnover between Azerbaijan and Moldova has increased by 4 times, including exports increase by 13 times, Azernews reports.

The remarks were made during a meeting between Moldovan Prime Minister Natalia Gavrilita and representatives of the Azerbaijani business circles.

Noting that trade and investment relations are one of the main directions of Azerbaijani-Moldovan cooperation, the participants stated that about 30 Moldovan companies work in various fields in Azerbaijan.

During the meeting, Natalia Gavrilita noted that Moldova attaches special importance to the development of relations with Azerbaijan. She noted the role of discussions in developing cooperation and establishing new business ties and underlined the importance of expanding relations between business circles and the implementation of new joint projects in various sectors.

The prime minister spoke about the work done in attracting investment, developing entrepreneurship, supporting SMBs in Moldova, and invited the business community to active cooperation.

Moreover, Azerbaijani Deputy Economy Minister Sahib Mammadov emphasized the importance of the event in expanding trade and economic relations and cooperation between business circles.

He spoke about the favorable business and investment environment in Azerbaijan, mechanisms to support entrepreneurs, construction projects implemented in the liberated territories, activities of industrial zones, and opportunities of the Alat Free Economic Zone.

The meeting included a presentation of Moldova's investment environment, answers to businessmen's questions, and suggestions on how to expand relations between business circles.

Diplomatic relations between the two countries were established on May 29, 1992. The embassy of Azerbaijan in Moldova was opened on October 5, 2005, while the embassy of Moldova in Azerbaijan was opened on November 1, 2005.

In total, fifty-nine documents were signed between the two countries. The trade relations between Azerbaijan and Moldova amounted to $6.2 million in 2021.