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Baku, Cairo eye chances for Egyptian companies to get involved in green energy projects in Karabakh

21 October 2022 14:29 (UTC+04:00)
Baku, Cairo eye chances for Egyptian companies to get involved in green energy projects in Karabakh

By Ayya Lmahamad

Baku and Cairo have discussed the opportunities for Egyptian companies to participate in the restoration and reconstruction of energy infrastructure in Azerbaijan's liberated territories, especially in the green energy projects to be implemented there, Azernews reports.

The discussion took place during a meeting between Azerbaijani Energy Minister Parviz Shahbazov and Egyptian Ambassador Hisham Mohamed Nagy Abdel Hamid.

During the meeting, the parties exchanged views on the current relations between Azerbaijan and Egypt in the energy sector.

The minister spoke about the reforms carried out in Azerbaijan and projects implemented in the relevant sectors. He emphasized that there are opportunities for expanding cooperation between public and private structures in areas such as petrochemicals, liquefied natural gas, and renewable energy.

Moreover, he invited representatives of the Egyptian private sector working in the relevant sector in Azerbaijan.

Diplomatic relations between the two countries were established on March 27, 1992. The Egyptian embassy in Baku has been operating since April 1993, while Azerbaijan's embassy in Cairo has been open since January 1994.

In total, the two countries signed around 50 documents on cooperation in various fields.

The trade turnover between Azerbaijan and Egypt amounted to $42.4 million in 2021, and to $4.1 million in the first five months of 2022.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

Follow us on Twitter @AzerNewsAz

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