Azerbaijan's Economic and Cultural Triumph: Hosting COP29

Azerbaijan's economy and cultural exchange are set to benefit from the positive impact of hosting the 29th Conference of the Parties (COP29). By securing the hosting rights for this prestigious event, Azerbaijan showcases its environmental sensibility and commitment to sustainability. The competitive bidding process for hosting major international conferences highlights Azerbaijan's diplomatic prowess and dedication to environmental issues.

Hosting COP29 not only positions Azerbaijan as a key player in global climate change discussions but also presents opportunities for economic growth and cultural exchange. The influx of international delegates and media coverage will enhance Azerbaijan's global visibility, while the exchange of ideas during the conference will enrich cultural understanding.

COP29 projects, spanning renewable energy, sustainable transportation, environmental conservation, and green technology, offer avenues for collaboration with foreign investors. Economist Natig Jafarly emphasizes the importance of smooth taxation, customs, and judicial systems to attract foreign investment. Joining international conventions like the World Trade Organisation can further enhance investor confidence in Azerbaijan.

Economist Rashad Hasanov highlights Azerbaijan's attractiveness for foreign investment due to its vast potential across various sectors, including the recently liberated territories. Accelerating peace agreements can further boost foreign investor interest in the region, paving the way for economic growth, job creation, and export opportunities.

Source: azernews