Ahmed Rostom: Egypt, Azerbaijan can develop partnerships in IT, energy - EXCLUSIVE

Egypt intends to study Azerbaijan's experience in formulating economic development plans, setting economic priorities, and developing public-private partnerships (PPPs), Ahmed Rostom, Egypt's Minister of Planning and Economic Development, told Report on the sidelines of the annual meetings of the Islamic Development Bank Group (IDB) in Baku.

The minister clarified that before arriving in Azerbaijan, he had the opportunity to meet with the country's Ambassador Extraordinary and Plenipotentiary to Cairo.

"We discussed a number of areas of cooperation. I also have a meeting scheduled with Minister of Economy Mikayil Jabbarov today. One of the key areas of work for our Ministry of Planning and Economic Development in Egypt is monitoring the achievement of the Sustainable Development Goals (SDGs) and finding innovative solutions for creating high-quality databases.

Such databases make it possible to formulate policies based on reliable information and track progress toward the SDGs in Egypt. I would be very happy to share this experience through joint seminars with the relevant ministries of Azerbaijan, primarily the Ministry of Economy and other agencies. We may jointly explore ways to improve data quality based on the specific needs of both countries. I believe this could become a promising platform for potential partnership and cooperation, given our mutual interest, including in matters of economic planning," said Rostom.

The minister emphasized his desire to share Egyptian experience while simultaneously studying Azerbaijan's practices in developing economic development plans, setting economic priorities, and promoting public-private partnerships (PPPs).

"I came to Baku to explore partnership prospects. It's worth recalling that two high-level meetings took place. First, the Egyptian President visited Baku, followed by a reciprocal visit by President Ilham Aliyev to Egypt. Thanks to this impetus, the strategic relationship between our countries was elevated to the presidential level. The ideas for joint partnership and knowledge exchange, which I have already mentioned, in the area of ​​economic development plans and economic cooperation are now fully justified. This is precisely one of the objectives of my current visit to Baku," the minister added.

Speaking about potential opportunities, Rostom pointed to their existence in a wide variety of sectors.

"However, we are leaving this decision to the private sector, as it is the primary factor determining the effectiveness of various initiatives in both countries. Priority areas include infrastructure, information technology, the oil and gas industry, oil refining and pipeline construction, as well as housing and pharmaceuticals. I believe that the Egyptian private sector has significant experience in these areas and is fully capable of establishing a partnership with its Azerbaijani counterparts to strengthen economic ties and cooperation. Furthermore, there is significant potential for cooperation in renewable energy, the oil and gas sector, and the modernization of relevant infrastructure. In particular, Egypt has accumulated extensive experience in pipeline construction and is ready to share these developments with Azerbaijan," the minister emphasized.