Egyptian, Azerbaijani presidents tackle ways to foster trade, economic partnerships

Ahram Online , Saturday 28 Jan 2023

Egypt’s President Abdel-Fattah El-Sisi and his Azerbaijani counterpart Ilham Aliyev underscored the necessity of enhancing trade exchange and bolstering economic partnerships between both countries' private sectors via the formation of a joint businessmen council.

Egyptian, Azerbaijani presidents


This came during a meeting between the two on Saturday in the Azerbaijani capital, Baku.

El-Sisi arrived in the country on Friday in the first ever visit by Egyptian president.

Both leaders discussed means to promote cooperation, shining a spotlight on opportunities and potentials in both countries in several sectors, according to a statement released by Egyptian Presidential Spokesman Bassam Rady.

This includes renewable energy, infrastructure, transportation, pharmaceutical industries and tourism and culture sectors, according to Rady.

Egypt is attempting to transform itself into a regional energy hub.

Aliyev praised the economic reform path in Egypt, saying it has resulted in "remarkable and continuous" improvement in the Egyptian economy, the spokesman added, expressing his country's keenness to elevate ties and consolidate cooperation with Egypt at all level.

Cairo "plays a pivotal role as a pillar of stability, security and peace in the Middle East and Africa," Aliyev assured El-Sisi.

In addition, both presidents witnessed the signing of several memoranda of understanding (MoUs) between governmental entities in the two countries in areas of trade, culture and water resources.

On Friday, El-Sisi held a meeting with Azerbaijani businessmen and CEOs of major companies, along with the ministers from both countries, where he expressed his aspiration to increase public and private investments from Azerbaijan in Egypt.

The businessmen stressed to El-Sisi that they are interested in fostering cooperation and joint investments with Egypt, especially in light of the provision of several promising investment opportunities in the country.

Recently, Egypt has offered a host of incentives to attract investors as part of its endeavours to boost the flow of foreign direct investment into the country.

Concurrent views on regional issues

El-Sisi and Aliyev also examined several regional and international issues of mutual interest. The Azerbaijani president hailed the "positive" role played by Egypt to settle regional issues, according to Rady.

El-Sisi and Aliyev also concurred on the importance of supporting efforts for a political settlement in Syria, working on rebuilding the country, eliminating terrorist groups and supporting state institutions.

They emphasised the necessity of preserving the territorial integrity of Syria, realising the legitimate aspirations of the Syrian people and ending their human suffering, the spokesman pointed out.

As for Libya, El-Sisi also reviewed Egypt's vision for a settlement in Libya and its efforts in this regard to support the political, constitutional and economic tracks. The discussion covered the repercussions of the Russian-Ukrainian war and the latest updates on the Palestinian cause.

Counter terror efforts

The meeting also tackled efforts to combat terrorism and extremist ideologies, Rady noted, adding that El-Sisi called for "concerted efforts by the international community to besiege this scourge at all levels, be they with regard to financing terrorist groups and supplying them with weapons and terrorist elements."

Aliyev, on his part, praised the comprehensive approach adopted by Egypt in its war on terrorism by addressing the roots of the problem via supporting economic and social development and combating extremist ideology that leads to terrorism.

During the meeting, President El-Sisi also extended his condolences to Azerbaijan after Friday's attack on its embassy in Tehran that killed its security chief and injured two guards, wishing a speedy recovery to those injured in the attack.

He also affirmed Egypt's "full solidarity with Azerbaijan in face of this painful incident that stresses once again the importance of rejecting extremism, violence and terrorism," noted the statement.

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