BAKU, Azerbaijan, August 1. Azerbaijan and the UAE have discussed the progress on joint green energy initiatives, Trend reports via the statement of the Azerbaijani Ministry of Economy.
According to the statement, this issue was discussed at a meeting between the co-chairs of the Joint Intergovernmental Commission on Economic, Trade, and Technical Cooperation between the governments of Azerbaijan and the UAE, namely the Minister of Economy of Azerbaijan, Mikayil Jabbarov, and his UAE counterpart, Abdullah bin Touq Al Marri, in Azerbaijan's Shusha city.
"The meeting noted that the relations between Azerbaijan and the UAE are based on the principles of mutual friendship and respect, highlighting the important role of the political will of the heads of state of the two countries in developing cooperation.
A special role for mutual visits and ongoing discussions in identifying new directions for bilateral relations was emphasized. It was brought to attention that the activities of the Trade Representative Office of Azerbaijan in the UAE and the Azerbaijani Trade House in Dubai contribute to the development of business connections.
The bilateral meeting highlighted the existing great potential for developing cooperation, stressing the importance of further increasing mutual trade volumes and diversifying its structure. Discussions were held on potential investment projects in the fields of green energy and tourism, as well as the progress of negotiations on signing a Comprehensive Economic Partnership Agreement between Azerbaijan and the UAE.
Afterward, the 9th session of the Joint Intergovernmental Commission on Economic, Trade, and Technical Cooperation between the governments of Azerbaijan and the UAE took place.
Speaking at the session, Jabbarov noted the successful development of the partnership between Azerbaijan and the UAE.
The minister emphasized the growth of trade turnover between the countries and the positive results of joint initiatives.
Participants in the event were briefed on the favorable business and investment environment created in our country, the activities of industrial zones and the Alat Free Economic Zone, as well as the 'open door' policy conducted for foreign investors. Investors from the UAE were invited to take advantage of the applied investment support mechanisms and participate in the implementation of joint projects.
The UAE minister of economy expressed satisfaction with the visit to Azerbaijan and the organization of the commission's meeting in Shusha.
He stressed the country's significant development, drawing attention to important energy, transport, and logistics projects implemented at Azerbaijan's initiative.
Confidence was expressed that the measures taken to strengthen multifaceted cooperation between the two countries would contribute to the realization of new joint projects and the development of trade and economic relations.
The parties also discussed issues of strengthening bilateral partnerships, implementing joint initiatives in green energy and other areas, and potential areas of cooperation within the framework of COP29.
At the end of the 9th meeting of the Joint Intergovernmental Commission on Economic, Trade, and Technical Cooperation between Azerbaijan and the UAE, a protocol was signed.
The document signed by Jabbarov and Al Marri envisages the expansion of cooperation in trade and investment, support for small and medium-sized businesses, innovation and digitalization, energy, including green energy, industry, agriculture, food security, environmental protection, land reclamation and water resources management, transport and logistics, communications and high technologies, science and education, tourism, healthcare, culture, and others," the statement added.
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