Baku: Azerbaijan's Minister of Economy, Mikayil Jabbarov, recently met with Israel's Minister of Foreign Affairs, Gideon Sa'ar, to discuss the enhancement of economic cooperation between the two nations. They explored opportunities to strengthen the legal framework of their bilateral economic partnership, increase trade turnover, and expand cooperation across various sectors such as industry, agriculture, energy, and high technology. The officials also reviewed the progress of joint investment projects.
According to Azerbaijan State News Agency, the Azerbaijan-Israel Business Forum followed this meeting, bringing together officials and representatives from both countries. Participants from industries including construction, pharmacy, agriculture, technology, water supply, transport, logistics, cybersecurity, banking, and tourism were in attendance. Minister Jabbarov emphasized that the cooperation between Azerbaijan and Israel is built on mutual trust and highlighted the importance of high-level contacts, referencing a recent meeting between the Presidents of both countries at the World Economic Forum in Davos.
Minister Jabbarov also discussed Azerbaijan's favorable investment climate and the incentives available for entrepreneurs. Israeli Foreign Minister Gideon Sa'ar praised the dynamic development of relations between the two countries and stressed the importance of direct contact between business circles in Azerbaijan and Israel. He highlighted the need for ongoing dialogue and the implementation of joint projects to further strengthen economic ties.
Yusif Abdullayev, Executive Director of Azerbaijan's Export and Investment Promotion Agency (AZPROMO), spoke about the role of organized events and business connections in fostering economic relations and shared his views on the bilateral business partnership. The Forum concluded with the signing of a Memorandum of Understanding between the National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan (ASK) and the Manufacturers Association of Israel (MAI), followed by B2B and B2G meetings.