A meeting dedicated to the latest developments in Azerbaijan-U.S. relations, the investment climate created in our country, and opportunities for American companies in our Republic was held jointly organized by the Embassy of Azerbaijan in the United States, the Washington Intergovernmental Professional Group, and the World Trade Center, Washington, D.C.

The event was attended by representatives of the aforementioned organizations, as well as American business representatives and experts. The moderator of the event, Nelson Garcia, President of the Washington Intergovernmental Professional Group, noted the development of relations between the two countries, emphasizing the role of such events in deepening cooperation.

Delivering his opening speech at the event, Azerbaijani Ambassador to the United States, Khazar Ibrahim noted the development of relations between our countries in political and other areas. He noted that Azerbaijan has been cooperating with the United States in the energy sector since the early 1990s, and these relations have become strategic, mutually beneficial relations. According to the Ambassador, the United States has played an important role in Azerbaijan's efforts to bring energy resources to the European market. He also noted the security cooperation between the two countries, saying that Azerbaijan was one of the first countries to support the United States during the 11 September attacks.

Ambassador Khazar Ibrahim, who stated that Azerbaijan is located in a strategically important region, said that in this regard, the Middle Corridor passing through our country is the shortest and cheapest route between Asia and Europe. He noted that Azerbaijan has always been a reliable partner.

Reminding that Azerbaijan will host COP29 this year, the Ambassador spoke about our country's activities in the field of renewable energy. According to him, Azerbaijan's wind energy potential in the Caspian Sea alone is 20 times greater than expected. The diplomat also said that areas such as high technologies, agriculture, tourism and communications, which are targeted for development in Azerbaijan, are also priority areas for the United States. The Ambassador said that currently the most business opportunities in Azerbaijan are in the liberated territories and there are opportunities for serious cooperation between the United States and Azerbaijan in this area.

Speaking next, Orkhan Mammadov, Chairman of the Board of Directors of the Small and Medium Business Development Agency, said that Azerbaijan has a favorable business and investment environment. According to him, it is no coincidence that Azerbaijan was selected as one of the 7 most attractive investment destinations according to the 2024 report of the International Monetary Fund. Orkhan Mammadov said that the country's favorable geographical position, location on leading trade routes, young and dynamic business environment and rich natural resources play a positive role in making investment decisions. He added that the development of small and medium-sized businesses in Azerbaijan is important for the business environment and investment.

O. Mammadov noted the important role of the liberation of Azerbaijani lands from illegal occupation in attracting investment. He said that the SME Agency accepts projects from local and foreign companies interested in doing business in Karabakh region of the Republic of Azerbaijan, and emphasized that 4 U.S. companies are also on this list.

Recalling that Azerbaijan will host COP29, the Chairman of the Board recalled that KOBIA also put forward a global initiative to expand the role of small and medium-sized businesses in the green economy and climate issues. He noted that Azerbaijan is diversifying its energy resources, which increases its investment potential in the fields of solar, wind and hydropower.

Finally, the guests' questions regarding the investment climate in Azerbaijan, the opportunities created, and priority areas were answered.