Egypt, Azerbaijan forge stronger economic ties in pharmaceuticals

Egypt’s Prime Minister, Mostafa Madbouly, underscored Egypt's dedication to removing obstacles that may delay the entry of Egyptian pharmaceuticals into the Azerbaijani market, aiming to fulfill Azerbaijani market needs as efficiently as possible.

This commitment was reaffirmed during Madbouly's meeting with Azerbaijani Prime Minister Ali Asadov at the COP29 climate summit in Baku.

Madbouly expressed Egypt’s goal to deepen trade and investment exchanges and broaden cooperation in key sectors.

He emphasized the need for stronger ties between business communities in both countries, advocating for organized delegations to explore mutual opportunities across economic, trade, and investment fields.

To facilitate these efforts, Madbouly announced plans for a high-level joint committee to convene in early 2025.

He proposed a business forum alongside the committee’s meetings to discuss collaborative opportunities in agriculture, industry, energy, petroleum, and pharmaceuticals.

Azerbaijan’s Prime Minister welcomed the idea, appointing his Minister of Technology and Investment, along with the Ministers of Agriculture and Health, to lead the forum.

He also stressed the importance of the pharmaceutical sector to Azerbaijan, which currently relies on imported medicines, and expressed interest in either fostering local pharmaceutical production or collaborating with Egypt in this vital industry, along with other areas.