Egypt keen on attracting Azerbaijan’s investments

By: Aynur Jafarova

Egypt expressed interest to attract Azerbaijan’s investments.

“The Egyptian government shows interest in Azerbaijan’s investment to recover the country’s economy. This interest has been repeatedly expressed at different meetings with Egyptian officials,” Azerbaijani Ambassador to Egypt Shahin Abdullayev told Trend Agency on December 8.

The Egyptian government considers the possibility of attracting Azerbaijani investments in the sectors such as economy, infrastructure, agriculture and others.

“The Azerbaijani side is also interested in investing in Egypt. However, it is necessary to obtain first a guarantee of safety as well as security of the representatives of Azerbaijani companies, which will work in Egypt in the future ,” the diplomat noted.

The ambassador believes Egypt’s new government is gradually launching its projects.

“There are plans to hold the next meeting of the intergovernmental commission on economic cooperation, during which all aspects of future cooperation will be discussed,” he added.

Abdullayev also said one of the prospective sectors for cooperation of the two countries is tourism.

He noted Azerbaijan and Egypt are considering the possibility of opening of direct flights to give impetus to the development of cooperation, and this issue is currently on the agenda.

Egypt and Azerbaijan have had relations which date back to centuries ago but since the last century they have developed closer contacts. Egyptians and Azerbaijanis have much in common-traditions, culture, customs, attitudes and religion. Since Azerbaijan has gained their independence in 1991, the two countries have started building relations in political, economic, cultural and educational spheres.

Egypt recognized Azerbaijan’s independence in December 1991 and the diplomatic relations between the two countries were established in March 1992.