Czechia reveals directions of energy cooperation with Azerbaijan

Ministry of Industry and Trade of the Czech Republic and the Ministry of Energy of the Republic of Azerbaijan will form a working group on energy based on a cooperation agreement signed between them.

Report informs, citing the Czech Ministry of Industry and Trade, that the document was signed during the Baku visit of Czech Minister of Foreign Affairs, Jakub Kulhánek in late September 2021.

"The recently signed agreement on the cooperation in the area of energy and the working group on energy could form the basis of cooperation in the field of energy in the future, which we would like to strengthen significantly. The document aims, among other, to create and cultivate a good environment for energy projects in both countries. There is great potential for future cooperation in the field of renewable energy. The technology of Czech companies can find good application in wind and hydro power and in improving the efficiency of the energy industry," the ministry said.

It also noted that another opportunity for Czech companies may be presented by the sectors that are being activated as part of the Azerbaijani government's efforts to diversify the economy and support the development of non-oil sectors of the economy.

"These include agriculture, chemical and manufacturing industries, engineering, services (especially transport, logistics, tourism) and IT. Major opportunities are presented by ongoing or new projects to modernise transport infrastructure, e.g. reconstruction of the road and rail network together with the supply of transport equipment. One of the Czech priorities is the sector of health technology and medical equipment. In May 2021, the Ministry of Industry and Trade co-organized a business mission to Azerbaijan and Georgia to support this sector. There is an ongoing programme of modernisation of medical facilities, on which Czech suppliers have already cooperated in the past. The pharmaceutical industry is also promising," the ministry's message reads.