400 EU companies operate in Azerbaijan

Azerbaijan-European Union online business forum kicks off.

According to Report, the event was opened by Kestutis Jankauskas, Head of the EU Delegation to Azerbaijan:

"The Azerbaijan-EU business forum has always attracted the attention of businessmen. Last year's forum had more than 700 participants. We expected this number to be higher this year. But the coronavirus pandemic changed our plans, and we had to organize it online."

"The pandemic has affected the world economy, including oil prices. But I think Azerbaijan has done an excellent job against it. The government has launched a new initiative to support small businesses," he noted.

Jankauskas also told about strong foundations of relations between Azerbaijan and the EU: "Currently, 400 EU corporations function in Azerbaijan. The EU accounts for 50% of Azerbaijan's trade turnover with foreign countries. The EU is the largest investor in Azerbaijan in both the oil and non-oil sectors.