Czech Republic eyes to expand trade relations with Azerbaijan

Thu 16 May 2019 16:07 GMT | 20:07 Local Time

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The Czech Republic considers the expansion of trade and economic cooperation with Azerbaijan a priority of its economic policy, President of the Chamber of Deputies of the Parliament of the Czech Republic Radek Vondracek said at the Azerbaijani-Czech Business Forum in Baku, Trend reports on May 16.

“The Czech Republic intends to further strengthen the partnership relations between the countries,” he added. Vondracek stressed the need to expand trade relations in various sectors of the economy.

"Today, the trade turnover between the two countries mainly accounts for the purchase of Azerbaijani oil and oil products,” he said. “Meanwhile, the Czech Republic is ready to export various Czech products to Azerbaijan. The special attention in the trade turnover is currently paid to the development of cooperation in the oil sector, resulting in an imbalance in bilateral trade."

He stressed that the Czech oil refineries are capable to refine Azerbaijani oil and presently, more than 33 percent of the entire refining process account for Azerbaijani oil.

"The Czech Republic, as one of the EU most developed countries, intends to cooperate with Azerbaijan in the field of oil and oil products refining for the long term and offers to expand bilateral cooperation in other spheres," Vondracek added.

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