Azerbaijan and Israel expand business opportunities

During a meeting with Israeli Foreign Minister Gideon Sa'ar and at the Azerbaijan-Israel Business Forum in Baku, discussions centered on the expansion of economic relations and the exploration of new partnership opportunities between the two nations, the Azerbaijani Ministry of Economy reported.

Azerbaijani Economy Minister Mikayil Jabbarov held a meeting with Israeli Foreign Minister Gideon Sa'ar, during which the growing pace of economic cooperation between Azerbaijan and Israel was highlighted. Both sides acknowledged the significant potential for further strengthening bilateral collaboration across various sectors.

Discussions focused on enhancing the legal framework for economic cooperation, increasing trade turnover, and exploring opportunities in industries such as agriculture, energy, high technology, and more. The status of ongoing joint investment projects was also reviewed.

The Azerbaijan-Israel Business Forum was subsequently held in Baku, attracting over 100 representatives from companies spanning a wide array of industries, including pharmaceuticals, construction, technology, water supply and sanitation, transport, cybersecurity, banking, tourism, and others, Trend reported.

During the forum, Jabbarov emphasized that the partnership between the countries is grounded in mutual trust, with high-level exchanges playing a pivotal role in advancing bilateral relations. A mutually beneficial partnership has been formed with Israel in a wide range of areas. At the same time, there are broad opportunities for developing cooperation between our countries in energy, trade, investment, agriculture, pharmaceuticals, transport, and other areas.

The Minister of Economy provided information about Azerbaijan's attractive investment climate and the opportunities created for investors, and expressed confidence that the discussions held at the forum will contribute to the implementation of new initiatives and the deepening of business ties.

Israeli Foreign Minister Gideon Sa'ar highly appreciated the dynamic development of Azerbaijani-Israeli relations and noted the importance of expanding direct contacts between business circles. The importance of regular dialogue and increasing the number of joint projects to further deepen economic ties was emphasized.

A memorandum of understanding was signed between the National Confederation of Entrepreneurs Organizations of Azerbaijan and the Israeli Manufacturers Association.