Sisi’s visit to Baku gives Azerbaijan, Egypt chance to unlock untapped potential to deepen co-op in various fields – Report

BAKU – There is a great historical and cultural connection between Azerbaijan and the Arab world, and Egypt, in this regard, takes a prominent position, Azerbaijan News Agency reported on Friday.

The visit of President Abdel Fattah El Sisi on January 27-28, 2023, is set to give a boost and open a new page in bilateral cooperation between the two countries.

Last year marked the 30th anniversary of the establishment of diplomatic relations between Azerbaijan and Egypt. And through these years, the two countries have established well-developed cooperation in political, economic, trade, cultural, and other fields.

Diplomatic relations between the two countries were established on the 27th of March 1992. The Embassy of Egypt in Baku has been operating since April 1993, and the Embassy of Azerbaijan in Cairo has been active since January 1994.

Since then the two countries enjoy mutually beneficial cooperation in various fields, such as energy, construction, pharmaceuticals, mining, and many others. So far, Egypt and Azerbaijan have signed nearly 60 cooperation agreements.

The Joint Commission on Intergovernmental Economic, Technical and Scientific Cooperation between Azerbaijan and Egypt was established on October 3, 2002. Moreover, the working group of the Azerbaijani-Egyptian inter-parliamentary relations operates in Azerbaijani Parliament.

The fifth meeting of the commission was held on February 25, 2022, in Baku. Following the result of the meeting, 4 memorandums of understanding were signed, that is, between the Small and Medium-Sized Business Development Agencies of the two countries, between Azerbaijan’s Export and Investment Promotion Agency (AZPROMO) and Egypt’s Trade and Industry Ministry on the establishment of the Azerbaijani-Egyptian Business Council, between AZPROMO and the Association of Egyptian Businessmen; and between Baku International Sea Port CJSC and the Port of Alexandria. At the same time, an Azerbaijani-Egyptian business forum was held within the framework of the meeting.

According to the latest statistics, the trade turnover between Azerbaijan and Egypt from January through December 2022 amounted to $16.1 million, of which $2.5 million accounted for Azerbaijani exports to the country, and $13.6 million – for imports.

Solid political relations helped the states to launch cooperation in various spheres. Considering all the above, Azerbaijan’s cooperation with Egypt has a great potential for future development, based on mutual support in the global arena, similar social contexts and values, the report added.