Azerbaijan, Baku, December 21 / Trend , N.Ismayilova /
Leading corporate firms from the UAE and Azerbaijan, a Central Asian oil and gas rich state, will form a joint international investment company, Minister of Economic Development of Azerbaijan Shahin Mustafayev said during his visit to Abu Dhabi, Emirates Business 24|7 reported.
A business forum also took place within the second UAE-Azerbaijan Joint Economic Committee meeting held in Abu Dhabi.
"A multi-billion dollar joint investment company will be established between corporate investors, including the private sector, from the two countries to help further strengthen the two economies with international investment explorations," Mustafayev said.
The joint company will acquire international assets in various sectors as well exchange investment within the UAE and Azerbaijan.
"The joint committee has been working on the new company that is likely to be established within a year. We are still working on it and it is in the studying stage with the involvement of prospective investors from the two countries. I will be happy when it is established within a year as it will be a boost for the economies of the two countries," said Mustafayev.
According to him, the two sides will further discuss the joint venture.
"There are huge opportunities to gain from each other. The two countries can benefit from economic cooperation in industrial, agricultural, IT, tourism and other areas of interests. We are particularly interested in gaining expertise from the UAE experience of developing successful industrial free zones and Islamic banking," the Azerbaijani minister said.