President of the Republic of Azerbaijan Ilham Aliyev has arrived in the Federal Republic of Germany to attend the 59th Munich Security Conference.

On February 17, President Ilham Aliyev met with the CEO of the German Eastern Business Association, Michael Harms, in Munich.

President Ilham Aliyev said good conditions had been created for German companies to operate in Azerbaijan and praised the country’s successful experience with German companies. The Azerbaijani leader underlined both countries cooperate in a variety of fields, including industry, trade and economy.

The head of state hailed the trade turnover increase between Azerbaijan and Germany last year and described the surge of mutual export as a positive factor.
President Ilham Aliyev said Azerbaijan is the European Union’s reliable partner, adding there are close ties between the European Union and Azerbaijan.

CEO of the German Eastern Business Association, Michael Harms, thanked for the meeting and recalled with pleasure his last meeting with the head of state. He pointed out that notwithstanding the Covid-19-caused impact, there is a fundamental growth of economic relations and trade turnover.

President Ilham Aliyev briefed Michael Harms on the ongoing reforms in various fields in Azerbaijan, including customs and tax ones, and underlined that Azerbaijan is an attractive destination for foreign investors. The head of state also provided information about the steps undertaken toward establishing free trade zones and increased logistics and transport capabilities in Azerbaijan. The Azerbaijani leader said there are ample opportunities for the operation of German companies in Azerbaijan and invited the member companies of the German Eastern Business Association to make a familiarization visit to Azerbaijan.

The President of Azerbaijan emphasized significant room for the representation of German companies in rebuilding works in the liberated lands. The head of state mentioned the “Azerbaijan 2030: National Priorities for Socio-Economic Development”, adding that it outlined strategic priorities for developing Azerbaijan’s economy and set the stage for the development of cooperation between the two countries, including that with German companies.

President Ilham Aliyev highlighted the renewable energy development projects in Azerbaijan and EU-Azerbaijan energy partnership and underlined the importance of the strategic energy document signed last year between Azerbaijan and the European Union with the participation of President of the European Commission Ursula von der Leyen. The head of state stressed Azerbaijan has enormous renewable energy potential both in the Azerbaijani section of the Caspian sea and onshore, saying steps had been taken towards developing this project within the partnership with the EU and that there are great opportunities for cooperation with German companies in this field. In this respect, President Ilham Aliyev also underlined the importance of the quadruple memorandum signed by Azerbaijan, Georgia, Romania and Hungary.

Michael Harms thanked for the information provided and underlined that German companies are satisfied with their operations in Azerbaijan. Harms said Azerbaijan is an attractive destination for German companies’ direct investments, adding Azerbaijan’s expanding transport and logistics capabilities make the country even more attractive for German firms. Harms let the Azerbaijani leader know that he is going to visit Azerbaijan together with German companies.

Michael Harms said German companies are particularly interested in renewable energy and underlined significant room for cooperation in this field.