Azerbaijan, Montenegro Seek to Boost Trade, Investment Cooperation

An Azerbaijani delegation, represented by the Export and Investment Promotion Agency (AZPROMO), the Azerbaijan Tourism Board (ATB), as well as five companies from the sectors of tourism, ICT, agriculture, construction and trade, visited Montenegro.

During the meeting, attended by Azerbaijani entrepreneurs, Yusif Abdullayev, AZPROMO Executive Director, Simonida Kordić, Montenegrin Minister of Tourism, Mirjana Ćurišić, Chief Architect of the Ministry of Spatial Planning, Urbanism and State Property, and Merlina Tošić Šahmanović, Assistant Director of the Public-Private Partnership Sector at Montenegrin Investment Agency, the sides explored the prospects for enhancing bilateral investment cooperation between the two countries, particularly in the fields of tourism and hotel business, The Caspian Post reports, citing local media.

The event also featured presentations on the opportunities created for investors in Azerbaijan by the Sea Breeze project, as well as the investment climate in Montenegro.

During the meeting between Yusif Abdullayev, AZPROMO Executive Director, and Snežana Đurović, Director of Montenegrin Investment Agency, the discussions focused on investment promotion and protection of investors' rights in both countries.

The parties also agreed to sign a Memorandum of Understanding within the framework of the First Azerbaijan International Investment Forum, scheduled to be held this year, with a view to determine the legal framework for future cooperation between the agencies.

As part of the trip, the Azerbaijani delegation members also visited various tourist destinations in Montenegro - Lovćen National Park, Portonovi, Kotor, Perast and Kolašin resorts, familiarizing themselves with the infrastructure and business environment created in the region.

At a meeting with Marko Cus, Chief Executive Officer (CEO) of Kotor Cable Car, the parties shared their views on the possibilities of joint implementation of similar infrastructure projects for tourism and travel in Azerbaijan, namely in the Karabakh region.

The delegation also familiarized themselves with the infrastructure and conditions created for tourists at the Kolašin ski resort.