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Azerbaijan, Egypt to consider business opportunities

07 July 2017 [16:29] - TODAY.AZ

By Azernews

By Kamila Aliyeva

Azerbaijan and Egypt plan to intensify cooperation in the sphere of economy.

Perspective areas for development of cooperation between Azerbaijan and Egypt will be considered at the upcoming meeting of the bilateral intergovernmental commission on trade-economic, scientific-technical cooperation.

The fifth meeting of the intergovernmental commission is scheduled for July, a diplomatic source told Trend on July 6.

The agenda of the fifth meeting will include consideration of the implementation of earlier agreements between the countries, exploring new prospects for business people's cooperation, as well as the renewal and expansion of the legal framework between the two countries.

Energy, tourism, agriculture, medicine and pharmaceutical sphere, where Egypt has a lot of experience, are currently the main areas of bilateral cooperation.

Pharmaceutical industry is the most important sphere of cooperation between the two countries, the source said, adding that at present, Azerbaijan imports more than 30 names of pharmaceutical products from Egypt.

Azerbaijan also intends to intensify efforts to promote the Made in Azerbaijan brand in Egypt and expand the opportunities for the Egyptian business to enter Azerbaijani market.

The previous meeting of the commission was held in November 2016 in Cairo.

Trade between Azerbaijan and Egypt amounted to $3.5 million in January-May 2017. As compared to the same period of the previous year, the turnover between the states increased by $1million, or 40 percent, according to the State Customs Committee of Azerbaijan.

The basis of Egypt’s exports to Azerbaijan contains medicines, clothes, rice, frozen vegetables, foodstuff, ceramics, marble and veterinary medicines. As for the Azerbaijan’s exports to Egypt, predominantly, oil and chemical products, geophysics equipment, spare parts, pipes and so on.


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