Azerbaijan Anticipates Boost in Trade with Egypt by 2024, Says Ambassador
Azerbaijan is set to see a substantial rise in trade turnover with Egypt by the close of 2024, according to Azerbaijani Ambassador to Egypt, Elkhan Polukhov. In an interview with Ahram Online, the ambassador highlighted the burgeoning economic ties between the two nations, as reported by News.Az.
Ambassador Polukhov underscored the keen interest Azerbaijani firms have in the Egyptian construction sector, remarking on the significant economic potential that exists. "There is a huge economic potential. According to our statistics in 2023, the trade reached a little over $13 million. We expect some increase in 2024," he stated.
The diplomat emphasized that the heads of state from both countries have prioritized enhancing communications in several key sectors, including pharmaceuticals, logistics, transportation, construction, oil and gas, green energy, and the exchange of expertise and technologies. "Both presidents highlighted that our communications need to be extended and intensified in areas such as pharmaceuticals, logistics, transportation, construction, oil and gas, green energy, and the exchange of expertise, knowledge, and technologies," Polukhov said.
He also pointed out the valuable insights Azerbaijan stands to gain from Egypt’s experience in developing smart cities and villages. "It is interesting to learn from Egypt’s experience in building smart cities and villages. Now, in Azerbaijan, after the liberation of our occupied lands, we have started to build smart cities and villages. Azerbaijani construction companies also have an interest in investing in this area in Egypt. We believe that after the latest visit, the intensity of communication between commercial and governmental bodies will give new momentum for cooperation," he explained.
In addition to opportunities for Azerbaijani companies, Ambassador Polukhov noted that Egyptian construction firms hold significant potential in new Azerbaijani markets, particularly in the pharmaceutical industry. "Our major task now is to organize the next meeting of the Joint Intergovernmental Commission on promoting trade and investment in Egypt," he added.
[source: News.Az]
