Estonia and Azerbaijan may exchange experience in the banking sphere, Mihhail Korb, the minister of public administration of Estonia, said in an exclusive interview with Trend.

"I think the Estonian banking sector is strong enough and this is the sphere where we can exchange experience," he said. "I am not familiar with the Azerbaijani banking sector, but in Estonia the banking sector is the driver of development of the IT sector."

Nevertheless, the minister added that none of the countries have yet touched on this topic in their discussions. However, he didn’t rule out that the banking sector could be discussed at the next stage of the talks.

There are 32 banks in Azerbaijan, including 16 with foreign share. Estonia has 16 banks.

As for the current cooperation, Korb noted that Estonia is working closely with Azerbaijan in the IT sector.

"I think there are also prospects for cooperation in agriculture, mechanical engineering and energy," Korb added.