A business forum organized by the European Azerbaijan Society (TEAS) was held in London on November 5 with the support of Azerbaijani Embassy in the UK and Azerbaijan Export and Investment Promotion Fund (AZPROMO).

Opening the event, TEAS Business Coordinator Venessa Raine highlighted Azerbaijan's modern infrastructure, economic development, welfare of the people and the consolidation of public-private cooperation in the country.

CEO of the SOCAR (State Oil Company of the Republic of Azerbaijan) Shahmar Huseynov underlined that Azerbaijan achieved to keep up political and economic stability despite obstacles related Armenia-Azerbaijan Nagorno Karabakh conflict.

The chairman of the TEAS Tale Heydarov spoke about the purpose of the event, saying that the forum was aimed at providing information about the business opportunities of the two countries, establishing initial contacts between the companies, and exchanging views on specific business projects and cooperation.

“We are satisfied that the forum becomes a tradition and hope it will contribute to the development of the business, impact positively on increasing foreign investment in the country,” said Tale Heydarov.

He expressed hope for greater economic and business relations between the UK and Azerbaijan, further development of bilateral relations in all spheres, and the establishment of a basis for new projects.

Azerbaijani Ambassador to the UK Tahir Tagizade talked about Azerbaijan’s success history and noted that the country achieved great successes in a short period of time. According to the Azerbaijani Ambassador, alongside oil sector, development is also witnessed in the non-oil sector including construction, transport, communication, truism and other fields. Inflation decreases and investment to the country’s economy increases.

The representative of the British Prime Minister, Member of the House of Lords, Lord Risby said that Azerbaijan has the potential for further development. The representative of the European External Action Service, Dirk Schuebel acquainted the participants with the statistical data reflecting the development of relations between Europe and Azerbaijan.

Deputy Executive Director of Azerbaijan Investment Company Ilham Aliyev touched on the investment ties between the UK and Azerbaijan in his speech. Aliyev noted that British investors give great importance to Azerbaijan, adding that businessmen from both countries are interested in active mutual investments.