Azerbaijani, Emirati ministers mull development of economic partnership

Azerbaijan's Minister of Economy Mikayil Jabbarov met with a delegation led by the Minister of Climate and Environment of the United Arab Emirates (UAE) Amna Al Dahak, Report informs, citing the Economy Ministry of Azerbaijan.

The prospects for mutually beneficial cooperation between Azerbaijan and the UAE were discussed at the meeting.

It was emphasized at the meeting that the Azerbaijan-UAE bilateral relations are based on a strategic partnership. Satisfaction was expressed with the development of cooperation between the two countries in various fields, including economic and trade, energy, as well as renewable energy, agriculture, food security, transport, logistics, cultural, humanitarian and other areas.

The importance of the Comprehensive Economic Partnership Agreement, signed with the aim of further facilitating and liberalizing trade between the two countries, as well as increasing turnover in the non-oil and gas sector, in the development of economic relations was noted.

The favorable investment climate created in Azerbaijan was emphasized, the role of the Joint Investment Fund established with the participation of the two countries in the implementation and financing of projects of mutual interest was highlighted. The importance of Masdar's investments in the renewable energy sector of Azerbaijan was also touched upon.

The meeting discussed joint projects serving sustainable economic growth, the implementation of efficient business solutions, and the reduction of carbon emissions, and it was noted that B2B meetings between Azerbaijani-UAE companies contribute to the expansion of business relations and the increase in mutual investment opportunities.