Azerbaijan, Israel discuss diversification of trade, economic relations PHOTO/UPDATED

Azerbaijani Economy Minister Mikayil Jabbarov has held a videoconference meeting with Israeli Minister of Agriculture and Rural Development Avi Dichter.

Jabbarov emphasised that relations between the two countries are at a high level, and work is underway to expand economic cooperation. The Israeli side was informed about the favourable business and investment environment, as well as the economic potential of the Azerbaijani territories liberated from occupation, Caliber.Az reports, citing the Azerbaijani Economy Ministry.

The Azerbaijani minister pointed out the possibilities for developing cooperation and implementing joint investment projects, urged Israeli entrepreneurs to take advantage of Azerbaijan’s business environment and establish an active partnership.

In his turn, Dichter noted that Israel attaches great importance to the development of economic cooperation with Azerbaijan in some spheres, including the agricultural sector, and shared his vision of strengthening the partnership.

The sides discussed prospects for the development of cooperation in the field of research, food security, water management and agriculture, as well as increasing the export of Azerbaijani products to Israel.

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Azerbaijani Economy Minister Mikayil Jabbarov and Israeli Agriculture and Rural Development Minister Avi Dichter discussed the current status and future possibilities for diversifying trade and economic relations.

The sides met in a video format due to a positive COVID-19 test within the visiting Israeli delegation, Caliber.Az reports.

“We also explored opportunities for cooperation in the agricultural sector, with a focus on ensuring food safety,” Jabbarov wrote on X, former Twitter.

🇦🇿-🇮🇱 During video conference with Avi Dichter (@avidichter), Israel's Minister of Agriculture and Rural Development, we discussed the current status and future possibilities for diversifying #trade-#economic relations. We also explored opportunities for cooperation in the… pic.twitter.com/WzYkbJ7izP

— Mikayil Jabbarov (@MikayilJabbarov) September 12, 2023

Israel imports 40 per cent of its oil from Azerbaijan. According to the United Nations COMTRADE database on international trade, Azerbaijani oil exports to Israel amounted to $1.67 billion in 2022. From January through May 2023, Israel imported over one million tons of crude oil and petroleum products from Azerbaijan.