Biggest Arab investors to gather in Baku

Business Materials 27 September 2017 20:32 (UTC +04:00)

Baku, Azerbaijan, Sept. 27

By Azad Hasanli – Trend:

The first Azerbaijani-Arab investment forum is expected to be held in Baku in March 2018, Chairman of the Cooperation of Azerbaijan and Arab Countries Association Elshan Rahimov said in an interview with Trend.

He added that around 300 businessmen and investors from Arab countries are expected to arrive in Baku.

"The biggest Arab investors, such as the Kanoo Group - Arab business conglomerate, operating in many areas beginning from logistics and ending with tourism, will attend the forum" Rahimov said.

Rahimov stressed that the organizational support for the event will be provided by the Islamic Development Bank (IDB).

"We will cooperate with the IDB to organize an investment forum,” he said. “The Azerbaijani government, in particular, the country’s Economy Ministry, also greatly support. The private companies are also showing great interest in the event.”

The investment forum between Azerbaijan and the Arab countries is aimed not only at attracting additional investments to the country, but also at establishing good relations between Azerbaijani and Arab businessmen.

According to the Azerbaijani State Customs Committee, the trade turnover between Azerbaijan and Arab countries amounted to about $280 million in January-August 2017, $240 million of which accounted for export to those countries.