BAKU, Azerbaijan, Trade turnover between Azerbaijan and Israel is expected to grow this year, the Founder of the Israel-Azerbaijan Chamber of Commerce and Industry (IACCI) Alex Kaplun told Trend.

According to Kaplun, relations between the countries will only improve and government projects will only expand.

“As for the trade turnover between entrepreneurs, here we are talking about an indicator within one billion USD. We see great growth potential in the field of private trade,” he said. “We already see how Israeli-Azerbaijani companies work together, implement joint projects in the agricultural sector. In the next three years the trade turnover can increase.”

Besides, according to the IACCI founder, agreements are already being signed between Azerbaijan and Israel.

From January through November 2022, the trade turnover between Azerbaijan and Israel amounted to $7 billion.

The IACCI is the most effective partner for both Israeli and Azerbaijani business people, SMEs and large corporations who seek to enter or expand their activities in both countries. In 2013, in Tel Aviv a meeting of the chamber founders was held, where Alex Kaplun was unanimously elected the president and the chairman of the Board of Directors of the Chamber.

The organization hold close ties with the Israeli Export Institute, еhe Israeli Manufacturers association, the Chamber of Commerce Federation as well as Governmental ministries and Israel embassy in Baku.

Source: TREND News Agency