For the first time after 30 years of diplomatic relations, Azerbaijan inaugurated a Trade and Tourism office in Tel Aviv, with diplomatic status.
Israeli Tourism Minister Yoel Razvozov and Azerbaijani Minister of Economy Mikayil Jabbarov, who serve as co-chairs of the Israel-Azerbaijan Joint Committee on economic collaboration, participated in the inauguration ceremony on Thursday.
The opening of the trade office is said to be a preliminary step to the opening of an Azeri Embassy in Israel. Israel has an embassy in Azerbaijan.
The ties between the two countries were established in 1992, and are considered good and include security cooperation. Muslim-majority Azerbaijan is one of Israel’s largest clients in the defense equipment industry. The relationship between Israel and Azerbaijan is largely discreet.
During 2020, mutual civilian trade between the countries was about $ 200 million, excluding the oil supply component. Israeli companies are represented in Azerbaijan in a variety of fields, from road construction to telecom and medicine.
Razvozov stated that the relations between Israel and Azerbaijan are “of a strategic nature and are based on trust and mutual respect.”
“Azerbaijan’s official trade office will certainly serve as an address for Israeli entrepreneurs in various and diverse fields, such as energy, medicine, water treatment, agriculture, and mutual investment,” he said.
Jabbarov noted the importance of the event and the “depth of mutual cooperation” and said that the opening of the official Trade Representation will “further promote the fruitful economic relations and business relations between the countries.”
He called on Israeli businessmen to take advantage of the beneficial business atmosphere in Azerbaijan created to facilitate mutual investments and transactions.