Azernews.Az

By Ayya Lmahamad

Azerbaijan will open trade and tourist offices in Israel in the near future, Azerbaijan’s Economy Minister Mikayil Jabbarov said during the second meeting of the Joint Commission between Azerbaijan and Israel.

Noting the friendly and fruitful partnership between the two counties, Jabbarov stressed that the political will of the heads of states and the great economic potential of both countries has created a solid foundation for cooperation.

It was noted that the two countries successfully cooperate in various economic spheres.

Moreover, the minister stressed that Israel is one of Azerbaijan’s main trade partners. In addition, he shared his views on increasing mutual trade turnover and diversification of the structure.

Noting the great importance attached to the development of digitalization in Azerbaijan, Jabbarov spoke about the National Priorities of Socio-Economic Development of Azerbaijan until 2030, stressing that the goal is to turn the country into a space of modern innovation. It was noted that the application of smart technology in Azerbaijan will contribute to the reconstruction of the country’s liberated territories.

Speaking about the favorable business and investment climate in Azerbaijan, the economy minister invited Israeli entrepreneurs to invest in the industrial zones created in the country and to participate in projects implemented within the framework of public-private partnership.

In turn, Israeli Foreign Minister Gabi Ashkenazi noted that his country attaches great importance to cooperation with Azerbaijan. He added that the cooperation between the two countries in the political, economic, and humanitarian spheres is steadily developing.

The parties exchanged views on the expansion of trade and economic relations and possibilities of cooperation.

Additionally, co-chairs of the Intergovernmental commission Mikayil Jabbarov and Gabi Ashkenazi signed a protocol on the results of the second meeting of the Joint Commission. The document envisages expansion of cooperation in energy, health, trade, investment, digitalization, agriculture, food security, standardization, water management, tourism, education, science, culture, and other areas.

Moreover, during an online meeting with Azerbaijan’s economy minister, Israeli foreign minister Gabi Ashkenazi underlined that Israeli companies are interested in participating in the reconstruction of Azerbaijan’s liberated territories.

Israeli minister stressed the importance of expanding bilateral ties between the two countries.

Mikayil Jabbarov emphasized the high level of political and economic relations between the two countries and thanked Israel for its support and humanitarian efforts during the 44-day Patriotic War.

During the meeting, economic cooperation between Azerbaijan and Israel was discussed and the successful activities of about 90 Israeli companies in various sectors of Azerbaijan’s economy were noted.

It was noted that the activities of the Azerbaijan-Israel Joint Commission and Chamber of Commerce and Industry are of great importance in the development of economic relations and implementation of projects on the basis of new initiatives.

Sharing his views on the future development of cooperation, the economy minister noted that Azerbaijan and Israel have great potential for cooperation in the areas of reconstruction of liberated territories, energy, health, investment, innovation, agriculture, water management, tourism, etc.

The parties discussed the development of bilateral economic partnership, cooperation in combating the coronavirus pandemic, etc.

It should be noted that Israel was one of the first countries that expressed its interest and readiness to participate in the restoration of Azerbaijan’s liberated territories. Trade turnover between Azerbaijan and Israel amounted to $465.7 million in 2020, with export accounting for $437.5 million, and import for $28.2 million. In addition, trade turnover between the two countries amounted to $131.5 million in the first quarter of 2021.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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