By Azernews

By Ayya Lmahamad

Azerbaijan’s State Tax Service and Israel’s Rayzone Group company have signed a memorandum on the project to develop and manage the “big data” platform.

At the same time, Azerbaijan’s Amelioration and Water Management OJSC and Israel’s Mekorot have signed an agreement on the provision of consulting services.

The documents were signed during the meeting of the Israel-Azerbaijan Chamber of Commerce and Industry.

“The document signed between the State Tax Service of Azerbaijan and Rayzone Group, a company operating in the field of cyber security, and Azerbaijan Amelioration and Water Management OJSC and Mekorot, a company specializing in water resources management, will facilitate the transfer of Israels best practices to our country, the expansion of technological capabilities, the creation of a new platform for cooperation in the application of innovative tools, and will benefit both parties,” Economy Minister Mikayil Jabbarov wrote on his official Twitter page.

Economic cooperation, trade turnover

Speaking at the meeting, Israel-Azerbaijan Chamber of Commerce and Industry President Alex Kaplun stressed the importance of the meeting in enhancing cooperation between the business communities of the two countries. He briefed on the organization’s activities, the work done to strengthen relations between businessmen, as well as planned measures.

Azerbaijan’s Economy Minister Mikayil Jabbarov emphasized the importance of expanding ties between the relevant agencies and business communities of the two countries in the sphere of trade and economic cooperation and the development of business relations.

He stressed that the volume of trade between the two countries almost doubled in 2021, and in January-February of this year increased sixfold.

Noting that currently, more than 90 Israeli companies operate in Azerbaijan in the fields of services, industry, trade, agriculture and construction, the minister stated that Azerbaijani trade and tourism missions to Israel contribute to the development of trade and economic relations.

Moreover, Jabbarov noted that cooperation in the field of mutual investment continues. In this regard, he stated that the “Investment Roadshow”, which is planned to be held in Israel, will be useful for the development of investment cooperation.

The economy minister also briefed on the favorable business environment in Azerbaijan, the economic potential of liberated lands, and opportunities for strengthening partnerships in agriculture, alternative energy, tourism, health, education, ICT, etc.

He invited Israeli companies to take advantage of the business environment in the country and actively cooperate.

In turn, Israel’s Tourism Minister Yoel Razvozov emphasized the importance of such events and fruitful discussions in expanding partnerships between the business communities of the two countries. He briefed on the possibilities of cooperation in various economic spheres.

The participants of the meeting also discussed the issues of the development of Azerbaijan-Israel trade and economic relations.

Bilateral relations

Mikayil Jabbarov and Yoel Razvozov also held a bilateral meeting, during which they discussed the work done to strengthen trade and economic cooperation between the two countries.

They noted that the joint commission between Azerbaijan and Israel, as well as the Israel-Azerbaijan Chamber of Commerce and Industry are important platforms for the development of the economic partnership.

Mikayil Jabbarov briefed on the reforms carried out in Azerbaijan, the favorable business and investment climate, and share his views on the prospects of trade and economic cooperation.

In turn, Yoel Razvozov noted that Israel attaches great importance to relations with Azerbaijan. He added that Israeli companies are interested in participating in different projects, including those related to the restoration of liberated territories. The minister also noted ample opportunities for strengthening partnership.

During the meeting, the parties discussed the current state and directions of the development of Azerbaijan-Israel relations.