Mikayil Jabbarov, Azerbaijan’s Minister of Economy, met with Gideon Sa'ar, Israel’s Minister of Foreign Affairs.

During the meeting, they highlighted prospects for strengthening the legal framework of bilateral economic partnership, increasing trade turnover, and expanding cooperation in industry, agriculture, energy, high technologies, and other priority sectors. The officials also reviewed the status of implementation of joint investment projects.

Subsequently, the Azerbaijan-Israel Business Forum was held gathering officials, representatives from both countries operating in industry construction, pharmacy, agriculture, technology, water supply and management, transport, logistics, cybersecurity, banking, tourism and other areas.

Addressing the event, Minister Mikayil Jabbarov noted that cooperation between the two countries is grounded in mutual trust. He said that the high-level contacts are crucial in boosting the bilateral relations. In this vein, he recalled the meeting between the Presidents of the two countries held on the margins of the World Economic Forum in Davos last week.

The Minister emphasized that both countries have established a strong and pragmatic partnership that has yielded tangible results across a wide range of sectors.

The Azerbaijani Economy Minister briefed the participants on the country’s favored investment climate, and incentives provided to entrepreneurs.

In his remarks, Israeli Foreign Minister Gideon Sa'ar praised the dynamic development of the Azerbaijan-Israel relations, emphasizing the significance of enhancing direct contacts between business circles of both countries. He also underscored the importance of deepening constant dialogue and increasing implementation of joint projects to enhance economic relations.

Yusif Abdullayev, Executive Director of Azerbaijan’s Export and Investment Promotion Agency (AZPROMO), highlighted the contributions of organized events and business ties in developing economic relations, and shared his thoughts on bilateral business partnership.

The Forum also saw the signing of the Memorandum of Understanding between the National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan (ASK) and the Manufacturers Association of Israel (MAI).

The event proceeded with meetings in B2B and B2G formats.