Azerbaijan, Algeria intend to tap existing economic potential

Economic relations between Azerbaijan and Algeria have significant untapped potential, Algerian Foreign Minister Ramtane Lamamra and the Foreign Affairs Minister of Azerbaijan Jeyhun Bayramov said at a joint press conference, Report informs.

According to Jeyhun Bayramov, as countries that export energy carriers, Azerbaijan and Algeria can cooperate primarily in the energy sector: "There is a huge unused potential in this field."

He expressed confidence that the visit of the Algerian Foreign Minister to Baku will stimulate the development of economic relations.

Ramtane Lamamra expressed hope that the two countries will do everything in their power to use the existing potential in the fields of economy and investment.

“We hope to establish an Algeria-Azerbaijan Business Council soon. So, there is a huge potential for economic cooperation. We will have mutual visits to learn more about the potential of economic cooperation and exchange information on national economies and regulations. This will allow achieving the necessary level of mutual understanding on the issues in question,” he stressed.