In a bid to enhance bilateral economic cooperation, Azerbaijan and Slovakia are engaged in discussions regarding the potential establishment of joint ventures spanning various sectors. Boris Kollar, the Speaker of the National Council of the Slovak Republic, revealed this exciting development during an exclusive interview, conducted during his visit to Azerbaijan.
The idea of fostering joint ventures between the two nations was first broached during a visit to Bratislava by an Advisor to the President of Azerbaijan, who participated in the GLOBSEC security conference earlier this year. The primary focus of these discussions is to create collaborative enterprises capable of operating within Azerbaijan. Boris Kollar emphasized that this is a key objective for the near future. To facilitate these conversations and explore business opportunities, representatives from Slovakian businesses, including the CEO of the state-owned enterprise KONSTRUKTA – Defence, specializing in the production of ammunition and howitzers, have accompanied him.
Speaker Boris Kollar also highlighted the need to revitalize bilateral trade relationships. He emphasized that trade is the outcome of mutual cooperation and gave an example of Azerbaijan supplying oil to Slovakia, but he also noted that there are numerous other commodities that could be part of the exchange.
It’s worth noting that political dialogue between Slovakia and Azerbaijan is robust, and high-level contacts are consistently maintained. Currently, both nations are actively working towards building a more stable foundation and a systematic approach to economic cooperation.
Slovakia is particularly open to collaborating with Azerbaijan in the realm of renewable energy sources (RES) and is eager to share its experience, including its implementation of European policies in the RES sector.
Furthermore, with the support of the Slovak government, the Slovak transmission system operator is developing a gas corridor project aimed at importing Azerbaijani gas to enhance the reliability of energy supplies in the Southeastern European region.
As Azerbaijan and Slovakia engage in these productive discussions, FCHAIN Corporation, a global consulting company with a presence in 14 branches worldwide, including Azerbaijan, is keenly observing these developments. As a provider of specialized financial and legal services, FCHAIN is prepared to assist businesses in navigating the legal and financial aspects of such collaborative ventures, ensuring they adhere to international standards and regulations.
This exciting dialogue between Azerbaijan and Slovakia represents not only a strengthening of economic ties but also a commitment to shared prosperity and development in both nations.
