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Egypt keen to attract Azerbaijani investments in Suez canal development

Business Materials 22 February 2018 10:56 (UTC +04:00)

Baku, Azerbaijan, Feb.22

By Leman Zeynalova – Trend:

Egypt looks forward to cementing cooperation with Azerbaijan and pumping further Azerbaijani investments into the domains of major national projects, natural gas and the Suez Canal Development Corridor, said Egypt’s Foreign Minister Sameh Shoukry.

He made the remarks during a meeting with Azerbaijan’s Economy Minister Shahin Mustafayev in Cairo, Egyptian media reported.

Mustafayev is on a two-day visit to Cairo, heading the Azerbaijani delegation at the meetings of the intergovernmental commission for economic, technical and scientific cooperation.

Shoukry hailed existing cooperation between Egypt and Azerbaijan in different issues and multilateral organizations, adding that Cairo is keen to boost relations with Baku.

Shoukry briefed Mustafayev on available investment opportunities in underway mega projects, especially in light of the Egyptian government’s plans to develop infrastructure and support various economic sectors, notably the oil and natural gas.

For his part, Mustafayev commended political rapprochement between the two countries and joint cultural commonalities.

He posted Shoukry on mega economic projects carried out by Azerbaijan, especially in the fields of infrastructure, gas export, oil and railways.

Trade turnover between Azerbaijan and Egypt stood at $8.03 million as of 2017, according to Azerbaijan’s State Customs Committee.

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