Azerbaijan, Israel discuss development of economic cooperation
Baku, March 18, AZERTAC
An Azerbaijani delegation led by Economy Minister Mikayil Jabbarov paid a working visit to Israel, holding various meetings to enhance Azerbaijani-Israeli economic cooperation.
Mikayil Jabbarov was received by Isaac Herzog, President of the State of Israel. During the meeting, the sides discussed the historical and cultural relations between the peoples of Azerbaijan and Israel, emphasizing the strategic alliance level of the relations achieved thanks to the initiatives of the heads of state. They also explored avenues for economic cooperation and Azerbaijan's importance as a Central Asia access point, including prospects for bilateral and multilateral cooperation.
The Azerbaijani delegation later held a meeting with Eli Cohen, Israel's Minister of Energy and Infrastructure, to discuss initiatives and projects aimed at strengthening economic relations and advancing the energy cooperation agenda between Azerbaijan and Israel. The meeting highlighted the role of Azerbaijan in Israel's energy security and the importance of leveraging SOCAR's experience in the development of Israel's gas fields. During the meeting, the parties also deliberated on significant initiatives and projects in the economic sphere, as well as priority areas of the energy agenda.
The visit also featured the presentation ceremony of exploration licenses for Block "I" in Israel's Exclusive Economic Zone (EEZ). These licenses offer strategic advantages in strengthening SOCAR's international position and leveraging innovative experiences. Notably, this is SOCAR’s first exploration project outside of Azerbaijan. The event was attended by Economy Minister Mikayil Jabbarov, SOCAR President Rovshan Najaf, Israel's Economy and Infrastructure Minister Eli Cohen, and other officials.
During the meeting with Nir Barkat, Israeli Minister of Economy and Industry, the sides hailed the advanced economic cooperation between the two countries. The Israeli side was informed about the favorable business and investment climate in Azerbaijan. The meeting also focused on priorities of Azerbaijan’s investment cooperation, partnership within industrial zones, business relations, exchange of experience in digital development, and other related issues.
Additionally, SOCAR and Union Energy signed a Memorandum of Understanding for joint exploration in Israel’s Exclusive Economic Zone (EEZ). The document, signed by SOCAR President Rovshan Najaf and Union Energy CEO Oded Nagar, aims to expand the parties’ international cooperation network and enhance access to new energy reserves.
In a meeting with Israel’s Minister of Foreign Affairs, Gideon Sa’ar, the Azerbaijani delegation exchanged views on the strategic alliance between Azerbaijan and Israel, focusing on economic and trade cooperation.
The delegation also met with Zeev Elkin, Minister at the Ministry of Finance and co-chairman of the Azerbaijan-Israel Joint Intergovernmental Commission, to discuss promoting bilateral business and trade relations and enhancing the Commission’s efficiency.
Other news in this section
