AZPROMO, Egyptian General Authority for Investment and Free Zones ink MoU

The Export and Investment Promotion Foundation (AZPROMO) of Azerbaijan and the Egyptian General Authority for Investment and Free Zone (GAFI) co-organized a meeting between Egyptian and Azerbaijani business communities in Cairo.

The event brought together Azerbaijani and Egyptian companies operating in industry, food, pharmaceutical, renewable energy, engineering, construction and other sectors.

Speaking to the event, Azerbaijan’s ambassador to Egypt Elkhan Polukhov expressed his confidence that the partnership between the countries based on common political and economic interests would further develop thanks to a joint activity of business circles.

Director of AZPROMO, Yusif Abdullayev stressed that the meetings of the heads of the states, as well as the President of the Arab Republic of Egypt Fattah Al Sisi with the Azerbaijani businessmen in January this year paved the way for the conduct of the event in Cairo.

The speakers highlighted the Azerbaijan-Egypt Business Council`s important role in establishing closer cooperation between entrepreneurs in the field of investment and increasing mutual trade.

GAFI CEO Hossam Heiba stressed the importance of increasing direct contacts between business circles and the participation of private sector in initiatives created in both countries for the efficient use of business and investment opportunities between the two countries. Azerbaijani businessmen were invited to operate in Egypt.

As a part of the event, AZPROMO and GAFI signed a Memorandum of Understanding on the Implementation Program in the field of investment promotion for 2023-2025.

The meeting also featured presentations by representatives of GAFI, Alat Free Economic Zone (AFEZ) and Suez Canal Economic Zone (SCZONE).

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