VIDEO: Azerbaijan, Egypt set to boost trade following high-level visits
Relations between the Arab Republic of Egypt and the Republic of Azerbaijan are of particular significance, rooted in their historical connections.
There are also numerous factors that meet the interests of both parties. Below we present the views of Amira Abdulhakim, Egyptian expert, climate and environmental expert, on relations between the two countries."This connection has been maintained over the years and was particularly strengthened during the meeting between Egyptian President Abdel Fattah el-Sisi and Azerbaijani President Ilham Aliyev. During this meeting, issues of mutual interest were discussed, and several agreements were signed between the two countries, covering various areas of economic cooperation," she said.
The expert added that in recent years, the number of mutual visits between the leadership of Egypt and Azerbaijan has increased. "On December 26, 1991, Egypt recognized the independence of the Republic of Azerbaijan, and a protocol on the establishment of diplomatic relations was signed. In 1994, Heydar Aliyev visited Egypt, and in 2007, Azerbaijani President Ilham Aliyev made an official visit to the Arab Republic of Egypt. During the presidency of Abdel Fattah el-Sisi, the number of meetings between the presidents increased," she noted.
"The volume of the trade turnover for the period from January to June 2022 amounted to 25 billion 885.6 million US dollars. At the same time, the volume of exports amounted to 19 billion 528.6 million dollars, and the volume of imports was 6 billion 357 million dollars, resulting in a positive foreign trade balance of 13 billion 171.6 million dollars," the expert pointed out.
She added that the main part of the goods imported from Azerbaijan includes electrical appliances and mechanisms, products of the machine-building industry, food products, spare parts, metal and iron products, plastic products, wood products, pharmaceutical products, tobacco, furniture and its parts.
"Regarding the protocols of agreements signed between the two states, it should be noted that on March 8, 2023, Egyptian Minister of Planning and Economic Development Hala el-Said, met with the Azerbaijani ambassador to Egypt, Elkhan Polukhov, to discuss issues of mutual cooperation. The main purpose of the meeting was to discuss the tasks arising from the official visit of Egyptian President Abdel Fattah el-Sisi to Baku in January 2022 and his meetings with Azerbaijani President Ilham Aliyev, as well as to discuss cooperation between the two countries at the regional and international levels," the expert said.
She went on to say that in February 2022, during the fifth session of the Joint Commission on Economic, Technical, and Scientific Cooperation between the Republic of Azerbaijan and the Arab Republic of Egypt, five agreements were signed covering port construction, business relations, joint activities in trade, and the activities of small and medium-sized companies.
"On January 28, 2023, under the chairmanship of Presidents el-Sisi and Aliyev, an expanded meeting of delegations from the two countries was held. During the meeting, protocols of agreements on cooperation in the fields of culture, water resources, as well as between the Ministries of Trade and Industry of Egypt and the Ministry of Economy of Azerbaijan were signed with the participation of the presidents," she noted.
"On January 9, 2024, several protocols of agreements were signed in the field of economic relations between Egypt and Azerbaijan, aimed at increasing the trade turnover, supporting joint investments, and elevating the existing bilateral relations in the fields of politics, energy, and economics to a strategic level. This became an important contribution to the bright future of relations between Egypt and Azerbaijan," the expert concluded.
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