Czech official lauds Azerbaijan's post-oil strategy

Azerbaijan is implementing a highly ambitious and remarkable strategy aimed at transitioning from an oil-producing economy to a highly developed model based on the industrial and service sectors, as well as becoming a key player and regional hub, Radek Špicar, Vice President of the Confederation of Industry and Transport of the Czech Republic, said at the Azerbaijan-Czech Business Forum.

According to Report, Špicar said Baku's shift away from a predominantly oil-based development model in favor of modern industry and a service economy is exceptionally ambitious and highly promising.

"We are watching with great attention Azerbaijan's strategy to become a key economic center in the region. It is difficult to find a more suitable partner for implementing such plans than the Czech Republic, which has significant industrial potential and centuries of manufacturing experience," Špicar emphasized.

The representative of the Czech business community also noted that the increased interest of Czech companies in deepening cooperation with Azerbaijan is driven by strong historical ties between the countries and the republic's attractive investment climate.

"To be honest, I wish Europe to be as successful in executing its strategies as Azerbaijan," he added.