Azerbaijan, Ethiopia discuss economic and investment cooperation

Azerbaijan and Ethiopia have discussed the development of economic and trade relations, the expansion of investment cooperation, and partnership opportunities in the fields of industry, energy, and agriculture.

According to Report, citing Azerbaijan"s Ministry of Economy, an Azerbaijani delegation led by First Deputy Economy Minister Elnur Aliyev visited Ethiopia and held talks with the country"s Minister of Trade and Regional Integration, Kassahun Gofe.

During the meeting, the sides emphasized the importance of expanding the legal and contractual framework and establishing institutional mechanisms to strengthen economic cooperation. They also discussed organizing mutual business missions, enhancing ties between business communities, and measures aimed at stimulating investment.

At a meeting with Ethiopia"s State Minister for Mining, Birhanu Yadeta, the parties discussed cooperation in energy and natural resources, including prospects for partnership in renewable energy.

The sides also exchanged views on cooperation in industrial zones and logistics. It was noted that Azerbaijan has established a favorable investment climate, including in the territories liberated from occupation, the Alat Free Economic Zone, and industrial parks offering incentives and benefits for investors.

During talks with Moses Vilakati, Commissioner of the African Union for Agriculture, Rural Development, Blue Economy and Sustainable Environment, the sides discussed cooperation in agriculture and food security. They highlighted the importance of exchanging experience in agricultural innovation, water resource management, and sustainable rural development.

The participants in the meetings also emphasized Azerbaijan"s strategic geographical location. It was noted that the country"s position at the crossroads of the East-West and North-South transport corridors creates additional opportunities for expanding trade ties, including with African states.

The parties stressed that the meetings held during the visit would contribute to broadening economic cooperation between Azerbaijan, Ethiopia, and the African Union, while also helping identify new areas of partnership.