Thursday 21 Nov
Egypt and Azerbaijan have agreed to foster stronger economic relations through a dedicated business forum. The decision was made during a bilateral meeting between Prime Minister Dr. Moustafa Madbouly and Azerbaijani Prime Minister Ali Asadov on the sidelines of the COP29 climate summit.
Both leaders expressed keen interest in expanding trade and investment ties. Key sectors identified for potential collaboration include energy, transportation, pharmaceuticals, agriculture, industry, and petroleum.
A joint higher committee meeting,
scheduled for the first quarter of 2025, will serve as a platform to discuss
and implement these initiatives. The business forum, to be held alongside the
committee meeting, will provide a space for business leaders from both
countries to explore opportunities including agriculture, industry, energy,
petroleum, and the pharmaceutical industry, as well as to establish
partnerships.
Madbouly also affirmed Egypt's commitment
to facilitating the entry of Egyptian pharmaceuticals into the Azerbaijani
market. The two nations will work together to streamline regulatory processes
and address any challenges.
The Prime Minister of Azerbaijan
touched on areas of cooperation between the two sides, noting the importance of
the education file between Egypt and Azerbaijan, taking into account that there
are delegations from Azerbaijan receiving their education in Egypt.
He emphasized Azerbaijan's strong
research and exploration capabilities in energy and petroleum. He proposed an
exchange of expertise, inviting Egyptian experts to Azerbaijan.
The Azerbaijani Prime Minister
welcomed the idea of a business forum during the joint higher committee
meeting. He assigned the ministers of technology and investment, agriculture,
and health to oversee this forum.
Asadov highlighted the importance of the pharmaceutical sector for Azerbaijan, given its reliance on drug imports. He expressed interest in either local manufacturing or cooperation with Egypt in this field, as well as others.
