On 21 September, Germany’s Ambassador to Azerbaijan Wolfgang Manig declared his country’s interest to further develop relations with Azerbaijan during a meeting with Azerbaijan’s Economy Minister Mikayil Jabbarov. During the meeting it was noted that a vocational education centre was recently opened in Sumgait Chemical Industrial Park with German support. In addition, it was noted that German companies can benefit from Azerbaijan’s favourable investment and business environment, transport and transit opportunities.
Likewise, Jabbarov spoke about the measures taken during the pandemic, current economic situation, reforms, establishment of Azerbaijan Investment Holding and Economic Council, as well as directions of economic development in the post-pandemic period. Additionally, sides exchanged views on the development of relations, continued participation of managers in advanced training courses in Germany, and on the cooperation between the Federal Association of Small and Medium-sized Enterprises of Germany and the Small and Medium Business Development Agency of Azerbaijan.
Besides Azerbaijan, Germany also expanded its scope of economic cooperation with Armenia. On 19 September, Armenia's parliament ratified the agreement between the Government of the Republic of Armenia and the Government of the Federal Republic of Germany on financial cooperation for 2018-2022 that was signed in 2018.
According to Deputy Minister of Economy Varos Simonyan, the agreement provides that Armenia will be able to receive loans and grants from Germany, which will be used in four main areas: supporting biodiversity within the framework of the sustainable local development program, development of renewable energy sources, financing of residential areas and promotion of trade through the German-Armenian Fund (GAF).
He noted that agreements have already been signed in three of these four areas. As part of the first component, Armenia received 23.1 million euros in the form of a grant, as part of the second component - a loan of 20 million euros for 18 years and a grant of 2.2 million euros, as part of the third component Armenia received a loan of 20 million euros for a period of 15.5 years and a grant of 375 thousand euros. Negotiations on the fourth component are continuing. Under the fourth round, Armenia is to receive a 25 million euro loan and a grant of 400 thousand euros.
