BAKU, Azerbaijan, November 1. President of Azerbaijan Ilham Aliyev visited Algeria at the invitation of the country's President to participate in the 31st Arab League Summit as an Honorary Guest, Trend reports on November 1.
Algeria is hosting the Arab League Summit for the fourth time on November 1-2.
In addition to the heads of 22 states members of the Arab League, presidents of Azerbaijan and Senegal as well as Secretaries General of the UN and the Organization of Islamic Cooperation (OIC) were invited to the summit as Honorary Guests.
The invitation of President Ilham Aliyev once again to a prestigious event as a Guest of Honor is an indicator of the high prestige of the Head of state in the Islamic world.
Algeria recognized the independence of Azerbaijan on December 26,1991. The diplomatic relations between Azerbaijan and Algeria were established on April 22,1994. The Embassy of Azerbaijan was established in this country in 2016. The diplomatic office of Algeria in Azerbaijan started its activity in 2015, and the Embassy of Algeria in Azerbaijan was established in 2019.
Active cooperation is carried out between the two countries within the framework of international organizations, including the UN, the OIC, the Non-Aligned Movement (NAM).President of Algeria Abdelmadjid Tebboune visited Azerbaijan to participate in the 18th Summit of the Non-Aligned Movement (NAM).
There are also friendly relations between the Parliaments of both countries. Thus, working group on the Azerbaijani-Algerian inter-parliamentary relations operates in Azerbaijani Parliament (Milli Majlis), and Algeria-Azerbaijan Parliamentary Friendship Group - in Algerian Parliament.
Algeria is one of the richest countries on the African continent and its the fifth largest economy on the continent with an annual GDP in the amount of $113.6 billion. There are five Algerian companies registered in Azerbaijan operating in field of services, trade and agriculture.
Algeria invested $504,900 in Azerbaijan during 1995-2022. Azerbaijan's trade turnover with Algeria amounted to $1.3 million, including import - $1.36 million, export - $9,500, foreign trade balance equaled $1.35 million in 2021.
From January through September 2022, the volume of trade turnover amounted to $865,750, including import - $845,940, export - 19,810, the foreign trade balance equaled $826,130.