UAE investments in Azerbaijani economy exceed $2B

UAE investments in Azerbaijani economy exceed $2B

BAKU, Azerbaijan, Nov. 13

Trend:

The UAE investments in the Azerbaijani economy amounted to $2.1 billion, UAE Minister of Economy Sultan bin Saeed Al Mansoori told reporters following the 7th meeting of the Azerbaijan-UAE Joint Intergovernmental Commission on Economic, Trade and Technical Cooperation in Baku, Trend reports on Nov. 13.

"The issues related to the supply of Azerbaijani agricultural products to the UAE and other Gulf countries were discussed at the meeting,” the minister added. “The current trade turnover between our countries is low - about $265 million. It should be increased.”

“The issues on renewable energy, as well as Azerbaijan’s participation in the Expo 2020 Dubai were discussed,” Mansoori said.

The issues of expanding the economic cooperation between the countries were discussed during the meeting of the Azerbaijan-UAE Joint Intergovernmental Commission on Economic, Trade and Technical Cooperation.

This is the seventh meeting of the intergovernmental commission of the two countries. The previous meeting was held in April 2017 in Dubai.

The co-chairmen of the commission are the ministers of economy of Azerbaijan and the UAE.

Presently, the countries actively cooperate in many spheres of trade and economics.

More than 30 documents on cooperation in priority spheres, in particular industry, construction, trade, agriculture, communications and transport, were signed.

Over 250 UAE companies operate in Azerbaijan.

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