Azerbaijan, Algeria Focus On Ways To Expand Economic And Trade Relations

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 24.​ Senior officials from Azerbaijan and Algeria convened in Baku to discuss expanding bilateral trade and deepening economic ties, Trend reports, citing the Export and Investment Promotion Agency (AZPROMO).

In a strategic convening at the AZPROMO headquarters, Algeria's Ambassador to Azerbaijan, Zakia Ighil, engaged in a dialogue with the agency's executive director, Yusif Abdullayev, to explore synergies and enhance bilateral collaboration between the two nations. The session emphasized the expansion of economic engagement beyond the conventional energy paradigm, fostering synergies in nascent sectors. Energy continues to be a fundamental cornerstone of both economic frameworks, yet both parties are amplifying their focus on diversification strategies and the advancement of sustainable energy portfolios.

The two parties engaged in a comprehensive dialogue regarding a spectrum of strategic initiatives designed to enhance reciprocal investment flows and streamline trade mechanisms, indicating a collective ambition to transition towards a more diversified and robust economic alliance.

AZPROMO was founded in 2003 by the Ministry of Economy of Azerbaijan to facilitate foreign investment in the non-oil industry and promote exports of non-oil products. The agency's primary objective is to enhance the nation's economy by soliciting international investment and fostering exports in the non-oil sector. To date, the agency has conducted 33 export trips to international destinations under the "Made in Azerbaijan" initiative.

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