Croatian Companies a Desirable Partner for Azerbaijani Entrepreneurs

Croatian entrepreneurs have proven several times that they have much to offer the Azerbaijani market, and this will be attempted again in Baku by around 60 Croatian entrepreneurs led by the president of the Croatian Chamber of Economy Luka Burilović. As part of the official visit of the President of the Republic of Croatia Kolinda Grabar Kitarović to Azerbaijan, from October 23 to 26, our companies will meet with local government representatives and entrepreneurs interested in cooperation.

“The Azerbaijani economy is specific because it largely depends on oil, the price of which on the world market directly affects their treasury. Regardless, I am confident that investments in technology and development will not be lacking, which will enable our companies to create new jobs as Croatian expertise is competitive everywhere,” emphasized Luka Burilović, president of the Croatian Chamber of Economy.

He added that alongside IT companies, the Croatian military industry has also been recognized in Azerbaijan, and for example, Geofoto has contracted a project for the Military Geoinformation System with the Ministry of Defense of the Republic of Azerbaijan, while Šestan-Busch has a lucrative delivery of 20,000 helmets. He reminded that the openness to cooperation was also shown by the Azerbaijani Minister of Defense, General Zakir Hasanov, who during a recent visit to the Croatian Chamber of Economy stated that there are great opportunities to enhance good cooperation with the Croatian military industry, especially in the procurement of military equipment and the refurbishment of old military ships.

“This industry, which has recorded high growth rates in recent years, is proof that Croatian quality is recognized in the showcase of the largest world fairs,” said Burilović. He stated that the Croatian Chamber of Economy estimates that there are also great opportunities for our shipbuilding, food, and chemical industries, as well as the tourism sector. “Additionally, we see opportunities for construction companies as this sector currently accounts for 12% of GDP in Azerbaijan, mainly due to increased public investments,” emphasizes Burilović.

In addition to the successes of the military industry, we also recall the latest contract for the implementation of hospital software by IN2, which presented itself to this market and established initial contacts as part of the first economic delegation of the Croatian Chamber of Economy at the Bakutel fair in 2011. Furthermore, InfoCumulus won an international tender for the implementation of CRM solutions for Azerfon, the second-largest mobile operator in Azerbaijan, while Banksoft signed a contract with the Azerbaijani MiliKart.

In Baku, on Tuesday, October 25, the Azerbaijani-Croatian forum will be held, during which companies will have the opportunity for individual discussions with the Azerbaijani side, and on Monday, October 24, meetings will be organized for Croatian companies in the relevant ministries and institutions.

The economic delegation consists of more than 60 entrepreneurs from 38 export-oriented companies in the fields of energy, construction, pharmaceuticals, IT, shipbuilding, and textiles, including DOK-ING, Ingra, Končar, Podravka, TŽV Gredelj, Uljanik, etc.

The total value of trade between the Republic of Croatia and Azerbaijan in 2015 amounted to $396.252 million, of which the value of Croatian exports to Azerbaijan was $4.647 million, and the value of imports from Azerbaijan was $391.605 million. More than 90% of imports to Croatia consist of oil, while military equipment is the most exported product from Croatia.