London

The trade and investment forum, Britain in Azerbaijan, brought together over 200 representatives of well-known British companies and business groups. Azerbaijan was represented at the forum by a high-level delegation, including International Bank Chairman Jahangir Hajiyev, Shahmar Movsumov, head of the State Oil Fund (SOFAZ), and Akim Badalov, head of the State Agency on Alternative and Renewable Energy.

The forum, organized by the International Bank of Azerbaijan, City of London and Middle East Association, was held at  Mansion House. It was sponsored by the Royal Bank of Scotland, Cross Caspian, AzMeCo, PricewaterhouseCoopers, DLA Piper and the Anglo Asian Mining Company and supported by the UK Trade and Investment Association.

The speakers, including Jahangir Hajiyev and Lord Howell of Guildford, co-chairs of the Britain-Azerbaijan Business Council, Lord Mayor of London Nick Anstee, Deputy Economic Development Minister Sevinj Hasanova and the Azerbaijani ambassador to the UK, Fakhraddin Gurbanov, all spoke about the growing business links between the UK and Azerbaijan, mentioning that Britain remains the largest foreign investor in Azerbaijan.

A number of high-level delegations have visited Azerbaijan recently, including Minister of State for Energy Lord Hunt, HRH the Duke of York in his capacity as UK special representative for international trade and investment and the lord mayor of London.

Matt Sutherland, head of the commercial and energy section at the British embassy in Azerbaijan, called for more investment from UK businessmen, promising to support and guide potential investors to make sure they have as much information as possible about the business climate in the country.

The participants discussed all aspects of investing in Azerbaijan, such as the investment climate, legislation, the protection of investments, taxes and tarrifs.

Participants paid special attention to the possibility of investing in the renewable energy sector. It was noted that the windy conditions on the Absheron Peninsula provided an enormous opportunity for wind farms.

News.Az