The Council of Ministers adopted a Decision to approve a draft Memorandum of Understanding between the Bulgarian Investment Agency (BAI) and The Agency for the Development of Small and Medium-sized Businesses (AMSDB), Republic of Azerbaijan.
The memorandum will support the development of bilateral economic cooperation between the Republic of Bulgaria and the Republic of Azerbaijan. Recognizing the strategic importance of the development of enhanced cooperation in the area of investment and trade promotion to increase employment, economic and social stability, the Parties agree to assist investors from the respective countries to establish and maintain various forms of cooperation.
The Memorandum envisages that the Bulgarian Investment Agency and the Azerbaijan Small and Medium Business Development Agency will be partners in the field of investment attraction and implementation of new investment projects, providing real opportunities to expand business contacts between potential investors from Bulgaria and Azerbaijan. The two countries will exchange information related to investment opportunities, providing it to each other for the purpose of implementing various initiatives in both countries that promote mutual investment attraction.
The Bulgarian and Azerbaijani sides will cooperate in carrying out investment promotion activities, each in accordance with their respective powers, including exchanging invitations to business forums, trade and investment exhibitions and other promotional activities.