Azerbaijan and Laos have maintained friendly relations and consistent political dialogue for more than 30 years, Deputy Minister of Economy Anar Akhundov said during his speech at the Azerbaijan-Laos Investment and Business Forum held in Baku, APA-Economics reports.
According to him, this creates a favorable foundation for bringing economic cooperation to the same level:
"Our economies have complementary advantages. Laos possesses significant hydropower potential, rich mineral resources, a strong agricultural base, and attractive tourist destinations. Azerbaijan, in turn, offers industrial potential, energy resources, access to markets, and experience in developing new economic sectors."
The deputy minister noted that Azerbaijan has successfully implemented large-scale investment projects in various sectors of the economy together with international partners:
"The success of these projects accelerates the implementation of new projects. Lao companies are also invited to take advantage of these opportunities.
Companies create jobs, introduce new technologies, and generate income. A strong private sector means stable employment, an expanding middle class, and the development of all regions. We are confident that partnerships between our business communities will be beneficial for both sides."
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