Tel Aviv wishes Azerbaijan to take part in Israel's oil sector

The trade exchange between Azerbaijan and Israel was $700,000 last year, APA reports.

Mr. Babayev also met with leadership of more than 30 companies engaged in water supply, ICT, banking, construction, agricultural, oil-gas, transportation and energy sectors.

It was concluded that Batiman Litvin and Tahal Group take an active part in construction of Oghuz-Gabala-Baku water pipeline and Israeli entrepreneurs are interested in various projects in Azerbaijan.

Issues on expansion of relations between the businesspeople of the both countries, implementation of joint projects, application of advanced technology in Azerbaijan, deepening of commercial ties were discussed at the meetings.

Heydar Babayev underscored great potential and prospects for development of agriculture, foodstuff, tourism and melioration and irrigation and invited Israeli entrepreneurs to join these projects.

Business forums, exhibitions and other events are planned to be held in order to promote cooperation economic relations between the two nations.

Israel Export and International Cooperation Institute will organize a visit of Israeli representatives to Azerbaijan.

Mr. Babayev also visited Ashkelon Port and concerned himself with water and oil supply companies in Israel. Azerbaijan's active participation in oil and gas supply of Israel was also discussed during the meetings.

Investment Protection and Promotion Agreement is expected to be signed between Azerbaijan and Israel.