Egypt and Azerbaijan are preparing to hold the sixth session of their joint committee for economic, scientific, and technical cooperation in Cairo next month, a meeting that will include a business forum aimed at strengthening ties between the private sectors of both countries. The plans were discussed during a meeting between Egyptian Minister of Planning, Economic Development and International Cooperation, Rania Al-Mashat, and Azerbaijan's Deputy Minister of Foreign Affairs, Yalchin Rafiyev, in Cairo. Al-Mashat affirmed the depth of the historical relations between the two countries and highlighted the joint efforts to increase private sector investments and leverage the vital role of both economies within their regional environments. The upcoming joint committee session will be co-chaired by Al-Mashat and Rashad Nabiyev, Azerbaijan's Minister of Digital Development and Transport. It aims to advance economic, trade, and tourism cooperation and will cover opportunities in fields including renewable energy, oil and gas, culture, health, and investment. Al-Mashat stressed the importance of convening the Egyptian-Azerbaijani Business Forum during the committee meetings to showcase investment opportunities and attract more Azerbaijani investments to Egypt. The minister also highlighted the successful visit of Azerbaijani President Ilham Aliyev to Egypt in June 2024, which witnessed the signing of seven documents in various fields, including economic development, digital transformation, and investment promotion. The two sides are also looking to establish joint projects in pharmaceutical manufacturing in Azerbaijan's Alat Free Economic Zone, transfer Egyptian expertise in green hydrogen and ammonia, and cooperate in the rehabilitation and maintenance of power plants. Al-Mashat also pointed to the recent launch of "Egypt's Narrative for Economic Development," a comprehensive framework aimed at transitioning towards an economic model that consolidates macroeconomic stability and focuses on the most productive, export-oriented sectors. The meeting also reviewed the outcomes of the COP29 climate conference, hosted by Azerbaijan, and its conclusions supporting the efforts of developing countries to address climate change.
