"Azerbaijan is one of the largest oil suppliers to the Czech Republic and it is interested in developing cooperation in the energy sector. Azerbaijan and the Czech Republic are currently elaborating a Memorandum of Understanding in the energy sector. The signing of the memorandum will create new opportunities for deepening cooperation between the two countries," Shafiyev was quoted as saying by Trend news agency.
"As a number of provisions of the draft memorandum are yet to be agreed on, the experts will continue working on the document. Therefore, the signing of the document is not expected next week," Shafiyev said.
He expressed hope that the draft would be submitted for signing during the visit of Azerbaijan's Minister of Industry and Energy Natig Aliyev to Prague, set for this year.
According to Azerbaijan's State Customs Committee, trade turnover between the countries amounted to $312 million in January-November 2016, while export of Azerbaijani goods to the Czech Republic reached some $214 million. The Czech Republic ranks 12th in the list of major importers to Azerbaijan.
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