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Azerbaijan and Israel have discussed the prospects for expanding and developing bilateral cooperation in the economic and financial fields.

The discussion took place during the meeting between Azerbaijan's Finance Ministry with a delegation led by visiting Israeli Finance Minister Avigdor Lieberman.

The parties noted that Azerbaijani-Israeli relations are developing on a growing line in political, economic, and other spheres. They also discussed prospects for expanding cooperation in the fields of cyber security, new payment systems and next-generation payment instruments, public finance management, best practices, and technologies.

Azerbaijan's Finance Minister Samir Sharifov congratulated his Israeli counterpart on Israel's adoption to the Asian Development Bank a few days. He expressed confidence that the interaction between Azerbaijan and Israel will expand within international interstate financial organizations, as well as in other areas.

In turn, Avigdor Lieberman thanked Azerbaijan for its support in Israel's admission to the Asian Development Bank.

The sides also exchanged views on other issues of mutual interest.

Azerbaijan and Israel have been expanding bilateral cooperation over the years.

It should be noted that Azerbaijan and Israel's cooperation is founded not only on economic partnership but also on traditional historical and cultural roots, as well as mutual respect and trust. Israel was one of the first countries to recognize Azerbaijan's state independence and establish diplomatic relations.

Furthermore, during the 44-day Second Karabakh War, Israel was among the first countries to express support for Azerbaijan's just position and territorial integrity. Azerbaijan expressed its willingness to involve Israel in the restoration of the country's newly liberated territories in January 2021. As a result, Israel will construct a buffalo farm in Azerbaijan's liberated Zangilan region.

Azerbaijan established its first Trade and Tourism Representative Office in Israel last year.

In 2021, the two countries' trade turnover totaled $928.4 million.

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