Azerbaijan, Egypt significantly boost trade

By Azernews

By Ayya Lmahamad

The trade turnover between Azerbaijan and Egypt has increased by over fivefold in 2021.

The remarks were made during the bilateral meeting between the co-chairs of the joint intergovernmental commission between the two countries, Azerbaijan's Digital Development and Transport Minister Rashad Nabiyev and Egypt's International Cooperation Minister Rania Al-Mashat.

During the meeting, the parties underlined that there is a real potential to further increase trade turnover.

They noted that businessmen have a special role in increasing trade and mutual investments, and from this point of view, the importance of organizing an Azerbaijan-Egypt Business Forum within the framework of the commission's meeting was noted.

Noting that the meeting of the joint commission coincided with the 30th anniversary of the establishment of diplomatic relations, the sides underlined that economic and cultural relations between the two countries are at a high level.

Additionally, the parties discussed the issues of promoting trade, industry and mutual investment, possibilities for cooperation in the areas of education, culture and tourism.

Trade, investment cooperation

During the meeting with Azerbaijan's Economy Minister Mikayil Jabbarov, the parties noted that trade and investment cooperation is one of the main directions of relations between the two countries.

Noting the importance of relations between the two countries, the minister emphasized that the joint commission is an important platform for partnership development. They stated that business relations are developing between the business circles of Azerbaijan and Egypt.

The ministers underlined that the documents signed during the meeting of the joint commission will also contribute to establishing new relations and implementing joint projects.

Rania Al-Mashat stressed that Egypt is interested in expanding relations with Azerbaijan. She also expressed her opinion on the development of the economic partnership.

The sides discussed cooperation in tourism, pharmaceutics, small and medium business, implementation of joint projects and other issues of mutual interest.

SMBs cooperation

Azerbaijan's Small and Medium Business Development Agency board chairman Orkhan Mammadov and the Egyptian Chambers Federation secretary-general Alaa Eldin Ezz discussed the development of cooperation between SMBs of the two countries and the organization of joint activities in this direction.

During the meeting, Mammadov briefed on the Agency's support for local and foreign businessmen.