Baku, Azerbaijan, March 4
By Sara Israfilbayova – Trend:
An agreement on customs cooperation should be signed to encourage mutual trade between Azerbaijan and Saudi Arabia, Governor of the General Investment Authority of the Kingdom of Saudi Arabia Ibrahim bin Abdul Rahman Al-Omar, said.
Al-Omar made the remarks at the fifth meeting of the intergovernmental commission between Azerbaijan and Saudi Arabia in Baku, Trend reports on March 4.
“The mechanisms should be created for the full implementation of agreements signed between the two countries and for the establishment of a platform for a mutually beneficial investment sphere,” he said.
Al-Omar stressed that the trade turnover between the two countries did not exceed $20 million in 2018 and investments do not correspond to the potential.
He added that the two countries are doing everything possible to expand the ties in the fields of trade and investment.
The fifth meeting of the intergovernmental commission between Azerbaijan and Saudi Arabia was held in Baku on March 4. The sides discussed the issues of cooperation in such spheres as economics, trade, investment, IT, culture, sports, agriculture, food security, employment, healthcare, tourism, education, etc.
The meeting participants also exchanged views on the current economic relations between the countries, the work carried out after the fourth meeting of the intergovernmental commission.
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