Egypt reveals great energy and infrastructure co-op potential with Azerbaijan (Exclusive)

BAKU, Azerbaijan, June 17. Egypt has great potential for cooperation with Azerbaijan in the fields of energy and infrastructure, Minister of Planning and Economic Development and the Islamic Development Bank (IsDB) Governor for Egypt, Ahmed Rostom, told Trend on the sidelines of the 51st Annual Meeting of the IsDB Group held in Baku.

He mentioned that the further strengthening of the strategic partnership between Egypt and Azerbaijan creates new investment opportunities in the fields of infrastructure, energy, pharmaceuticals, and logistics.

According to the minister, the demand for infrastructure investments is growing rapidly on a global scale, and by 2030, the annual investment need in this area is expected to reach $29 trillion.

"On the one hand, this indicates an increasing need for governments to provide high-quality infrastructure projects to ensure a high quality of life for citizens. On the other hand, public-private partnership projects create great opportunities for economic growth and job creation. Expanding infrastructure investments is an important factor in terms of accelerating economic development and increasing employment," he said.

Rostom noted that such international events bring together government agencies, financial institutions, and private sector representatives, creating conditions for identifying investment opportunities.

"Such platforms serve to present fundable projects, discuss opportunities for expanding private sector participation, and promote concessional financing, risk-sharing, and management mechanisms. At the same time, they play an important role in the development of cross-border economic integration, policy coordination, and the creation of mutually beneficial cooperation models," the minister emphasized.

Speaking about the prospects for economic cooperation between Azerbaijan and Egypt, Rostom noted that relations between the two countries have further strengthened in recent years.

"The visits of Egyptian President Abdel Fattah al-Sisi to Azerbaijan and President Ilham Aliyev to Egypt have raised the strategic partnership between the two countries to the highest political level. This creates conditions for opening new investment and cooperation opportunities," he noted.

According to the minister, infrastructure, pharmaceutical industry, and energy sectors are among the most promising areas for cooperation.

"There is a wide potential for cooperation in the fields of renewable energy, the oil and gas sector, and the development of energy infrastructure. Egypt has extensive experience, especially in the construction of pipelines and the creation of energy infrastructure, and is ready to share this experience with Azerbaijan," he said.

Rostom added that the development of logistics and transport relations between the two countries is also of particular importance.

"Both countries have significant experience in the management and development of economic corridors. Sharing this experience, further harmonizing trade rules and regulatory frameworks can facilitate the movement of goods and services. Also, establishing partnerships between logistics hubs located in Azerbaijan and Egypt can contribute to the acceleration of global trade flows," he emphasized.

The Egyptian minister noted that cooperation on public-private partnership (PPP) projects also has great prospects.

"Egypt has private and state-owned companies with extensive experience in implementing large infrastructure projects. Egyptian companies have implemented successful projects in Africa and the Gulf countries in the field of construction of airports, dams, and other large facilities. I believe that at the next stage it is possible to direct this experience to the development of the Azerbaijani economy, implement joint projects and expand cooperation for the sake of common prosperity," Rostom added.