Azerbaijan and Lithuania have great potential for developing economic cooperation, Lithuanian President Gitanas Nauseda said during the Azerbaijani-Lithuanian business forum in Baku, Report informs.

He said that the role of Azerbaijan as one of the most important links between Europe and Asia is growing in the current conditions on the world market, which makes the country an attractive trading partner for Lithuania and creates opportunities for business development.

According to Nauseda, Lithuania may be of interest to Azerbaijan as a partner in high technology, information technology, food industry, logistics and renewable energy.

“Lithuania really has something to offer its business partners from Azerbaijan: we have seven free economic zones, one of the most developed digital infrastructures in Europe, an advanced transport and logistics sector, the port of Klaipeda, as well as a large and diversified agricultural sector.

During the business forum, representatives of the public and private sectors of Azerbaijan and Lithuania signed seven memorandums on expanding cooperation in the areas of trade, technology, digitalization, transport and logistics, innovation, as well as small and medium-sized enterprises.