Azerbaijan, Algeria eye to capitalise on existing economic potential

Azerbaijani Foreign Minister Jeyhun Bayramov and Algerian Minister of Foreign Affairs and National Community Abroad Ramtane Lamamra have said that there is significant untapped potential in Azerbaijani-Algerian economic relations.

"The two countries can cooperate, primarily, in the energy sector, as countries exporting energy resources, as well as in investment making process, there is a lot of unused potential," Report quotes Bayramov as telling a press conference in Baku on August 10.

He expressed confidence that the Algerian minister's current visit would give impetus to the development of economic relations. In turn, the Algerian minister, who is the special representative of Algerian President Abdelmadjid Tebboune, expressed the hope that the two countries will do their best to use the existing potential in the field of economy and investments.

"We hope that a business council between Algeria and Azerbaijan will be established soon, as there is a huge potential for economic cooperation," the Algerian minister noted.

"We will make reciprocal visits, learn more about the potential for economic cooperation, exchange information on national economies and regulation, which will allow achieving a satisfactory level of interaction in these issues," Lamamra said.