Azerbaijan, UAE intend to create joint ventures

Business Materials 18 November 2014 16:00 (UTC +04:00)

Baku, Azerbaijan, Nov.18

By Maksim Tsurkov - Trend:

Azerbaijan and the United Arab Emirates (UAE) signed a protocol after the fifth meeting of the intergovernmental commission on trade, economic and technical cooperation between the two countries on Nov.17.

The two countries have reached an agreement on supporting and promoting the activities of the two countries' business communities, private and public enterprises, as well as professional organizations in order to create joint ventures in the priority sectors, according to the protocol.

UAE companies, interested in the export of mineral waters and natural stone are expected to visit the Nakhchivan Autonomous Republic.

At the same time, the country's companies have been invited to visit the Sumgait Chemical Industrial Park to study the possibilities for making investments.

The trade turnover between Azerbaijan and the UAE stood at $50.353 million in the first nine months of 2014 and Azerbaijani import accounted for the considerable part of this amount ($46.884 million), according to Azerbaijani State Customs Committee.

Edited by SI