Israeli companies eager to explore potential of Azerbaijan’s liberated areas

Azerbaijani and Israeli companies will sign contracts on the implementation of agriculture and water treatment projects, President of the Israel-Azerbaijan Chamber of Commerce and Industry Alex Kaplun told Report.

Kaplun said that several Israeli companies have already signed contracts to implement projects in Karabakh: “These projects are mainly related to agriculture, infrastructure, and water supply. I know that many Israeli companies are looking forward to visiting Karabakh and exploring its potential. Even companies participating in the Israel-Azerbaijan innovation forum can operate in the liberated territories of Azerbaijan.”

Kaplun highly valued the trade turnover between Azerbaijan and Israel. However, he said that such an indicator is mainly achieved due to interstate cooperation: “We expect the turnover in the private sector to be higher. There are several reasons why it is not high today, the first of which is the coronavirus pandemic. I believe that trade turnover between Azerbaijan and Israel will increase this year.

“Several agreements have been signed between our countries recently. These contracts relate to the projects implemented in the liberated areas and the Alat Free Economic Zone.”

The trade turnover between Azerbaijan and Israel in 2022 amounted to $1.718 billion, up 85% compared to 2021.