TODAY.AZ / Business

Israel attaches great importance to development of cooperation with Azerbaijan

18 May 2022 [16:03] - TODAY.AZ

By Azernews

Israeli Agriculture and Rural Development Minister Oded Forer has said his country attaches great importance to the development of economic cooperation with Azerbaijan, including in the agricultural sector.

He made the remarks at a meeting with Azerbaijani Economy Minister Mikayil Jabbarov.

During the meeting, Oded Forer expressed interest in the participation of Israeli companies in restoration projects implemented in Azerbaijan's liberated lands.

In turn, Mikayil Jabbarov underscored the 30th anniversary of the establishment of diplomatic relations between the two countries and the ongoing work to expand high-level bilateral economic cooperation.

The minister briefed about the favorable business and investment environment in Azerbaijan, the economic potential of the country's liberated lands, and the opportunities for cooperation. He invited Israeli companies to take advantage of the business environment available in Azerbaijan and called for active partnership.

The parties discussed prospects for cooperation in various spheres of economy, food security, water management, agriculture, and scientific research in this area.

Azerbaijan and Israel have been expanding bilateral cooperation since the establishment of diplomatic relations.

The cooperation between Azerbaijan and Israel is founded not only on economic partnership but also on traditional historical and cultural roots, as well as mutual respect and trust. Israel was one of the first countries to recognize Azerbaijan's state independence and establish diplomatic relations.

Furthermore, during the 44-day Second Karabakh War, Israel was among the first countries to express support for Azerbaijan's just position and territorial integrity. Azerbaijan expressed its willingness to involve Israel in the restoration of the country's newly-liberated territories in January 2021. As a result, Israel will construct a buffalo farm in Azerbaijan's liberated Zangilan region.

Azerbaijan established its first Trade and Tourism Representative Office in Israel in 2021.

The two countries' trade turnover totaled $928.4 million in 2021.


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