BAKU, Azerbaijan, September 26. Azerbaijan's trade turnover with the Persian Gulf countries increased by 28 percent from January through August this year compared to the same period last year, the Deputy Economy Minister of Azerbaijan Anar Akhundov said at the second Azerbaijan-Gulf Cooperation Council economic forum, Trend reports.
“Our trade turnover with the countries of the Cooperation Council for the Arab States of the Persian Gulf increased by 28 percent from January through August this year compared to the same period last year. Our exports doubled during this period,” he said.
According to him, cooperation with the Gulf countries has played a key role in accelerating Azerbaijan's economic development, diversifying the economy, and effectively implementing investment opportunities.
“Joint initiatives in the fields of energy, trade, and infrastructure development have not only succeeded but also made a significant contribution to regional stability and prosperity,” the deputy minister noted.
He emphasized that today economic relations between Azerbaijan and the Persian Gulf countries are developing based on mutual interest, which creates a basis for more effective implementation of joint projects.
“The close relations established between Azerbaijan and the Gulf Cooperation Council countries are based on common cultural heritage and Islamic values and form a solid basis for our bilateral cooperation. Joint activity with GCC countries is one of the priority directions of Azerbaijan's foreign policy, and achievements in this field are obvious,” he added.