Mikayil Jabbarov holds talks on economic cooperation during visit to Qatar

The delegation lead by the Economy Minister of Azerbaijan Mikayil Jabbarov held a series of meetings during their visit to Qatar, discussing the development of cooperation with the Gulf state, Report informs.

During the reception by Qatar's Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, the strengthening of friendly and cooperative relations between the two countries was emphasized. Information was provided about Azerbaijan's economic priorities and potential, opportunities created for investors, and prospects for joint activities were noted.

Qatar's Prime Minister and Minister of Foreign Affairs stated that his country's relations with Azerbaijan are based on principles of sincere friendship and partnership, and shared his thoughts on expanding cooperation in the economic sphere. The parties evaluated directions for strengthening economic and trade partnership between the two countries.

During the meeting with Qatar's Minister of Commerce and Industry Sheikh Faisal bin Thani bin Faisal Al Thani, it was highlighted that expanding trade ties with Qatar is one of the priority goals in bilateral relations and increasing the volume of mutual investments will contribute to the economic development of both countries. The meeting provided information about Azerbaijan's favorable business environment and transit opportunities, and reviewed possibilities for increasing investments in priority areas such as green technologies, agriculture, infrastructure, and industrial modernization.

During the meeting with Qatar Investment Authority CEO Mohammed Saif Al-Suwaidi, it was noted that there are great opportunities to strengthen joint investment activities with Qatar. Issues such as mutual investments, potential joint projects, and deepening partnership relations between business entities of both countries were discussed.

At the meeting with Mutaz Al-Khayyat, Chairman of the Board of Directors of Qatar's Power International Holding, the special importance of implementing mutually beneficial initiatives in the economic sphere was noted. Opportunities for expanding cooperation with the company in the energy sector and implementing joint projects were evaluated.

Within the framework of the visit, documents were signed between SOCAR and Qatar's UCC holding on partnership in the energy sector. The memoranda of understanding were signed by SOCAR President Rovshan Najaf and UCC Holding President Ramez Al-Khayyat. The Memorandum of Understanding signed between SOCAR and Qatar's UCC holding opens new opportunities for cooperation in oil and gas, petrochemical, infrastructure, and energy projects in third countries. The other Memorandum of Understanding signed by the companies envisages partnership in the energy sector in Syria and is important for the restoration of the country's energy infrastructure and sustainable development of the region.