The regular and final 2024 trade mission to Azerbaijan has just concluded. This year has been special precisely because 3 trade missions to Azerbaijan and one incoming mission from Azerbaijan to Latvia, Estonia, Finland were organized. Why such an intense schedule in the LEF network Azerbaijan project?

International business has a much wider range of external factors than local business and knowledge of international cultures, and acceptance is one of the cornerstones of building an export market in a particular country. By conducting research on the differences and nuances of business culture in Azerbaijan, the LEF network Azerbaijan project provides significant support to companies to overcome precisely the differences in business cultures and for Latvian, Estonian, Finnish companies to successfully export to Azerbaijan.

In the Azerbaijani business culture, it is customary to have several face-to-face meetings with a potential representative before signing an agreement on cooperation, talking about life, business, family, and only step by step do you get to specific negotiations about a contract, international trade. In October, the trade mission focused on green and sustainable technologies and also the education sector. Most companies went to Azerbaijan for the second or even third time with the aim of concluding cooperation agreements. According to the feedback from the companies, it can be concluded that the project experience is correct, because during the first trip they understand the market, the essence of the country as such, and in the subsequent ones they already work with specific contacts.

5 companies from Latvia participated in the October trade mission to Azerbaijan: SIA BC Engineering, SIA Hydrokapillar Tech, SIA Rhino R/ Bruntor, SIA Purenn Group, SIA Wateriga. In parallel, Estonian and Finnish green technology companies were also involved in the trip. The trip is unique in that the group of companies visited the Azerbaijani autonomous region of Nakhchivan, the Rebuild Karabakh exhibition, the Central Baltic-Azerbaijani Business Forum and B2B sessions both within the framework of the forum and outside it. The visit to Nakhchivan provided a broader insight into both green technologies in Azerbaijan and the manufacturing industries and their modern technologies in this region, which are actually the way to the European market. The Rebuild Karabakh exhibition was an international business event, where companies from not only Azerbaijan, but also from Germany, Finland, the Netherlands, China, etc. presented their offers.

The Central Baltic-Azerbaijan Business Forum was attended by Peter Michalko, Ambassador of the EU Delegation to Azerbaijan, Edgars Skuja, Ambassador of the Republic of Latvia to Azerbaijan, and Jaak Lensment, Head of the Estonian Embassy Office. Green technology opportunities were presented, the environment for Latvia, Estonia, and Finland, and a particularly engaging presentation was made on Azerbaijan’s strategic plans for the development of the industry. Kaspars Osis, RCG Lighthouse represented Latvia as an industry expert and gave a comprehensive presentation and participated in a panel discussion. The business forum was moderated by Līga Sičeva, Director of the EU Projects Department. In parallel with the official activities, B2B meetings were held, the goal of which was to find suitable potential cooperation partners for companies in the Central Baltic region.

A series of other events are planned for 2025 – 2 trade missions to Azerbaijan and 2 incoming missions from Azerbaijan to Latvia, Estonia, and Finland. Also 3 business forums – one in Azerbaijan and one in Finland and Estonia. 2025 is the final year of the project.

The project is led by the Latvian Chamber of Commerce and Industry together with the Estonian Chamber of Commerce and Industry and the University of Satakunta from Finland. The project is co-financed by the Interreg Central Baltic program.