There is significant potential for increasing trade turnover between Azerbaijan and Slovakia, Deputy Minister of Economy of Azerbaijan Anar Akhundov said at the Azerbaijan-Slovakia business forum held in Baku, Report informs.
"In the first eight months of this year, the trade turnover between our countries amounted to $31 million, with the majority being our imports from Slovakia. However, we see significant potential for increasing our exports to Slovakia through strengthened energy cooperation," Akhundov noted.
The deputy minister also touched upon Azerbaijan's investment environment: "Azerbaijan boasts a highly favorable investment environment supported by various tax incentives and government initiatives. These include concessional loans, expanded public-private partnerships, and fundamental reforms in the tax system aimed at promoting transparency and improving the business environment."
Akhundov further emphasized the exceptional opportunities offered by Azerbaijan's industrial zones, which provide exemptions from various taxes for ten years, creating unique opportunities for cooperation based on mutual interests.
"Azerbaijan is strategically located as a crucial hub in international transport corridors. In fact, by initiating the construction of the Baku-Tbilisi-Kars railway line, we laid the foundation for the Middle Corridor," Akhundov added, highlighting Azerbaijan's pivotal role in global transportation networks.