site.btaBulgaria Approves Draft Investment Promotion Agreement with Azerbaijan

The Bulgarian government approved a draft agreement with Azerbaijan on the promotion and reciprocal protection of investments, as a basis for negotiations, the government press office in Sofia said on Wednesday, covering the cabinet’s weekly meeting.

According to the press release, the agreement is a necessary prerequisite for strengthening the investment activity of Azeri companies in Bulgaria. The document will establish the required contractual and legal framework for the development of investment cooperation between the two countries. Additionally, the implementation of the agreement will protect Bulgarian investors and investments in Azerbaijan based on modern European standards and a dispute resolution mechanism.

Bulgaria values Azerbaijan as an important economic partner and is interested in developing all aspects of the traditionally good relations between the two countries. Bilateral relations are characterized by a strategic nature, with two Declarations of Strategic Partnership signed, two sessions held, and a third planned for the end of 2025, the press office said.