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Azerbaijan eyes to expand co-op with Saudi Arabia in energy sector

Business Materials 19 November 2018 13:00

Baku, Azerbaijan, Nov. 19

By Taleh Mursagulov - Trend:

Azerbaijan intends to expand cooperation with Saudi Arabia in the energy sector, Yalchin Aliyev, executive director of the Association for Azerbaijan- Arab Countries Cooperation (AACC), told Trend Nov. 19.

He said that it is planned to establish the export of certain equipment intended for oil production, lubricants, etc. from Azerbaijan to Saudi Arabia.

“Our main goal is to enter the market of Saudi Arabia,” he noted. “This is the most interesting and most difficult market. Saudi Arabia accounts for about 65-70 percent of the total consumption of food and other goods in the region.”

In addition, he noted that work is underway to bring Azerbaijani food and non-food products to the Qatari market.

“Certain Azerbaijani companies have already entered this market, but these volumes are not as big as we would like them to be,” said Aliyev. “This is related to some pricing factors.”

He added that the work is underway to organize trade delegations to Kuwait, Qatar and Saudi Arabia.

Azerbaijan’s trade with Arab countries amounted to $324.53 million in 2017, while $259.72 million accounted for the export of Azerbaijani goods, according to Azerbaijan’s State Customs Committee.

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