Deputy Economy Minister of Azerbaijan Sahib Mammadov met with Chairman of Estonian Parliament (Riigikogu) Juri Ratas, according to the Ministry of Economy.

The sides discussed issues of promoting new business initiatives and investments and expanding contacts between business circles of Azerbaijan and Estonia.

Mammadov informed Ratas about the favorable business and investment climate in Azerbaijan, the economic potential of the country’s liberated territories from Armenian occupation, focused on the opportunities for developing cooperation and invited Estonian companies to active cooperation.

“More than 30 Estonian companies operate in Azerbaijan,” Mammadov said.

Ratas noted Estonia’s interest in expanding its partnership with Azerbaijan, and the participation of Estonian companies in projects implemented in liberated territories, and also shared his opinion on directions for developing bilateral cooperation and possibilities for implementing joint initiatives.

According to Azerbaijan’s State Customs Committee, the trade turnover with Estonia exceeded $3.07 million from January through April 2022, while this figure in the same period last year amounted to $1.7 million (an increase of 78.6 percent over the year).