Bulgaria and Azerbaijan can start an exchange of electricity for gas

New spheres are being explored to strengthen trade and economic relations between Bulgaria and Azerbaijan. Today, the Minister of Economy and Industry of the Republic of Bulgaria Nikola Stoyanov held meetings in Baku with the Minister of Economy Mikail Jabbarov and the Minister of Defense Industry Madat Guliyev.

Bulgaria and Azerbaijan can start an exchange of electricity for gas. This was discussed during the meeting between Minister Stoyanov and Minister of Economy Mikail Jabbarov. Attention was drawn to the fact that Bulgaria is one of the major producers of electricity in the region, while the majority of Azerbaijan's facilities operate entirely on gas. In the event that our country can guarantee quantities of electrical energy, Azerbaijan can undertake to redirect the released volume of gas to Bulgaria. "This is another opportunity to diversify our country, especially on the threshold of the winter season," commented Nikola Stoyanov, quoted by the press center of the Ministry of Economy.

Minister Stoyanov pointed out that it is important for our country to promote the export of Bulgarian goods, products established on international markets in the fields of mechanical engineering, electrical engineering, electronics, equipment for the food industry, etc. The two countries will partner to improve transport connectivity between them, and Bulgaria will provide a list of priority areas in which we are interested in a more tangible presence on the Azerbaijani market.

The possibilities for the restoration of the direct air line between Baku and Sofia will also be studied. Until the pandemic, the air link was showing better and better results, but after the spread of Covid-19, it stopped functioning. Minister Jabbarov emphasized that their country is making targeted efforts to develop its tourism sector and improving transport connectivity is of primary importance. The Bulgarian minister supported the opinion that easier travel will be a prerequisite for increasing both the tourist flow and business relations between the two countries.

Earlier in the day, Minister Nikola Stoyanov also spoke with Madat Guliyev, Minister of Defense Industry of the Republic of Azerbaijan, with whom they discussed the possibilities for deepening the partnership between the two countries and exchanging experience in this field. The main topic of the conversation was the blocked defense sector of Bulgaria until the beginning of August this year. Minister Guliyev emphasized that dozens of complaints have been received from their companies that purchase components or materials from our country and whose activities were greatly hampered due to the actions of the previous minister. We remind you that for more than 40 days the specialized Commission for Expert Control did not meet, which practically blocked the military-industrial complex of our country. The Azerbaijani minister congratulated his Bulgarian colleague for the quick actions to resolve the problem and expressed hope that such a situation will not be repeated.

In 2021, bilateral trade between Bulgaria and Azerbaijan will amount to USD 97.3 million dollars, having grown by nearly 450% compared to 2020. Bulgarian exports to Azerbaijan amounted to nearly 30 million USD dollars, marking a growth of over 35%.