Azerbaijan expects an increase in the trade turnover with Egypt by the end of 2024, Azerbaijani Ambassador to Egypt Elkhan Polukhov said in an interview with the Egyptian Ahram Online, News.Az reports.

The diplomat noted that Azerbaijani companies also have an interest in investing in the construction sector in Egypt.

“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 noted.

“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.

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,” the ambassador said.

“In addition, Egyptian construction companies have potential in Azerbaijani new markets and 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: https://news.az/news/azerbaijan-expects-growth-in-trade-turnover-with-egypt-by-year-end

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