Emirates news agency – Azerbaijani President receives UAE Minister of Economy, highlights depth of UAE-Azerbaijan relations

ABU DHABI, June 27, 2021 (WAM) – Ilham Aliyev, President of Azerbaijan, received Abdullah bin Touq Al Marri, Minister of Economy, and the accompanying delegation in the Azerbaijani capital, Baku.

The visit of the UAE delegation to Azerbaijan, led by Al Marri, aimed to finalize new joint action plans in the next phase to increase trade and investment flows between the two countries, strengthening thus strategic economic partnerships.

The visit included meetings between Al Marri and Ali Asadov, Prime Minister of Azerbaijan; Mikayil Jabbarov, Azerbaijani Minister of Economy; Rashad Nabiyev, Azerbaijani Minister of Transport, Communications and Advanced Technologies; and representatives of the Azerbaijani business sector.

President Aliyev expressed his satisfaction with the relations between the two countries and his desire to strengthen the economic cooperation and strategic partnerships between the UAE and Azerbaijan over the next 10 years by creating new investment opportunities, by focusing on several vital sectors, such as infrastructure, logistics transport. , investment in renewable energies and tourism.

During the meeting, Al Marri said: “Azerbaijan is a friendly country, a major economic partner of the UAE in the region and a popular destination for UAE citizens to travel, study and engage. in business activities and investments. The government of UAE is keen to continue working closely with our Azerbaijani partners to develop cooperation in various sectors which offer promising opportunities for the future. ”

During another meeting, Al Marri and Asadov discussed ways to develop UAE-Azerbaijan relations and explored perspectives of supporting and developing them using the promising potentials and opportunities available. for both parties.

Asadov said: “We see promising opportunities to strengthen the partnership with the UAE at government and private levels, making the best use of the promising potentials and opportunities available on both sides. fruitful cooperation in various vital areas. of common interest, in particular the fourth industrial revolution and artificial intelligence, electronic commerce and food safety. We will work to raise the effective partnerships between the two countries to a new level of excellence to serve the development aspirations of both countries. ”

Al Marri said: “Relations between UAE and Azerbaijan are making rapid progress in various fields, especially on the economic and trade front. This provides a solid basis for strengthening joint action between UAE and Azerbaijani governments to further raise levels of cooperation and economic integration.

In addition, the parties commended the existing cooperation between their countries on various issues of common interest, and their continued coordination on economic developments through their common membership of many international organizations, which strengthens their roles and contributions to peace. , security and development in the region and the world.

During Al Marri’s meeting with Jabbarov, the parties agreed to adopt joint practical measures to facilitate and increase trade, create new investment opportunities for the private sector in the two countries. In addition, companies will be encouraged to explore new horizons of partnership and take advantage of promising opportunities in their respective markets.

Jabbarov stressed the importance of Azerbaijan’s participation in Expo 2020 Dubai to contribute to its success.

Al Marri presented the UAE’s efforts and initiatives to contain the COVID-19 pandemic and accelerate economic recovery.

In this regard, the two ministers approved mechanisms to exchange knowledge and share best practices to boost economic recovery and explore new opportunities and sectors in the post-COVID-19 era.

The ministers also agreed to hold the 8th session of the Joint Economic Committee (JEC) in the United Arab Emirates, coinciding with Expo 2020 Dubai, and outlined an expanded program for the next JEC, which focuses on traditional vital sectors, as well as new economic sectors, such as space, innovation, renewable energies, digital transformation, modern agriculture, smart transport and the fourth industrial revolution.

The total non-oil trade volume between the UAE and Azerbaijan in the first nine months of 2020 was over AED 1.2 billion (US $ 323 million). The UAE is Azerbaijan’s largest trading partner in the Gulf Cooperation Council (GCC), as it accounts for 76% of Azerbaijan’s trade with GCC countries.

In addition, the two ministers approved an action plan to increase air connectivity, passenger transport and freight movements between the cities of the two countries.

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