Bulgarian Government Takes Important Step to Strengthen Economic Ties with Azerbaijan
Sofia, [date] - At today's meeting, the Council of Ministers of the Republic of Bulgaria approved a draft Agreement between Bulgaria and Azerbaijan on the promotion and mutual protection of investments. This move is seen as a key step in strengthening economic cooperation between the two countries and creating a favorable environment for mutual investments.
According to an official government statement, the signing of this agreement is considered a "necessary prerequisite for enhancing the investment activity of Azerbaijani companies in Bulgaria". This decision comes in the context of Azerbaijan's growing importance as an economic partner for Bulgaria and the desire to deepen bilateral relations.
The Council of Ministers emphasizes that the document will create a solid contractual and legal basis for the development of investment cooperation. Of particular importance is that the agreement will provide protection for both Bulgarian investors in Azerbaijan and Azerbaijani investors in Bulgaria, based on modern European standards and a dispute resolution mechanism.
This move fits into Bulgaria's broader strategy to strengthen its ties with Azerbaijan, which is viewed as an "important economic partner". The government recalls that bilateral relations have a strategic character, supported by two signed Declarations of Strategic Partnership. Two sessions of bilateral consultations have been held so far, with the third planned for the end of 2025, demonstrating consistency in the development of relations.
Experts in international economic relations assess this move as a positive signal for the business communities in both countries. The agreement is expected to stimulate new investment projects, especially in sectors such as energy, information technology, and agriculture, where both countries have significant potential.
Negotiations to finalize the text of the agreement are forthcoming, after which it will be signed by representatives of both states. This process is expected to be completed in the coming months and is being watched with great interest by business circles in both countries.
The approval of the draft agreement is seen as an important step in Bulgaria's efforts to diversify its economic partnerships and strengthen its position as an attractive destination for foreign investment in the Southeast European region.