Azerbaijan, Egypt eye to update legal framework
Baku, Azerbaijan, July 3
By Seba Aghayeva – Trend:
Azerbaijan and Egypt intend to update the legal framework between the two countries, Azerbaijani Ambassador to Egypt Tural Rzayev told Trend July 3.
Bilateral draft documents that cover such spheres as economy, agriculture, education, culture, science, etc. are at the stage of consideration, the ambassador noted, adding that a part of the bilateral agreements requires updating.
Perspective areas for the development of cooperation between Azerbaijan and Egypt will be considered at the upcoming meeting of the bilateral intergovernmental commission on trade and economic, as well as scientific and technical cooperation, Rzayev said.
The fifth meeting of the Azerbaijani-Egyptian intergovernmental commission was tentatively scheduled for July in Baku, but later it was proposed to hold the meeting in autumn in Cairo, and the final decision regarding the date and place of the negotiations hasn’t been made yet, the ambassador said.
At the fifth meeting of the Azerbaijani-Egyptian intergovernmental commission, it is planned to consider such issues as the course of implementation of previously reached agreements between the two countries, exploration of new prospects for business people’s cooperation, as well as updating and expanding the legal framework between the two countries, the ambassador noted.
Energy, tourism, agriculture, medicine and pharmaceutical sphere, where Egypt has a lot of experience, are currently the main areas of bilateral cooperation, Rzayev said.
Azerbaijan also intends to intensify efforts to promote the Made in Azerbaijan brand in Egypt and expand the opportunities for the Egyptian business to enter Azerbaijani market, he added.
Pharmaceutical industry is the most important sphere of cooperation between the two countries, he said, adding that at present, Azerbaijan imports more than 30 names of pharmaceutical products from Egypt.
Azerbaijan also delivers oil and oil products, as well as products of chemical enterprises to Egypt, the ambassador noted.
In general, the volume of trade turnover between Azerbaijan and Egypt for the past five or six years has amounted to about $5 billion, Rzayev noted.
Both countries have great potential for the growth of the trade turnover volume, the ambassador said.