"One of the directions in which we can cooperate is mutual investment, joint production projects, so in the future we can export output to neighboring regions. There is a number of Estonian companies that are prepared to invest in agriculture and the keeping of animals as well as in other fields for subsequent export to Central Asia, India and Turkey," Kiverik said.

He added that Estonian entrepreneurs are also interested in participating in logistics projects, joint carriage and transport services.

Estonia may additionally join the North-South transport route.

"For Azerbaijan, Estonia is a diving board for the Scandinavian market. On the other hand, Azerbaijan is a possible diving board for our companies for the Iranian, Middle Eastern and Indian markets. We are gladdened by the fact that Azerbaijan is promoting both political as well as railway ties with Iran. If this route launches, our investors and entrepreneurs will find it significantly easier to reach the aforementioned markets namely through Azerbaijan," he said.

Kiverik also said that the volume of Azerbaijani export to Estonia is increasing and digital economic cooperation is progressing well. "Good exchange is not big, it is even marginal. As for Azerbaijani investments in Estonia, those are increasing. This is connected with various Azerbaijani companies in logistics, consultation, IT, wholesale, and the restaurant business opening representations in Estonia. We are waiting for the negotiations results of several projects," he said.