Azerbaijan reveals priorities for establishing trade and investment cooperation with Saudi Arabia
Trend:
Azerbaijan’s Ambassador to Saudi Arabia Shahin Abdullayev said that Baku is seeking to establish partnerships with Saudi Arabia in the fields of satellites technology, petrochemicals, oil, gas, agriculture and tourism.
“We launched two satellites and we reached advanced levels in this sector. We aim to be among the top producers of satellite parts,” Abdullayev told Asharq Al-Awsat.
He said that political ties with Saudi Arabia are excellent and have contributed to economic, trade and investment cooperation in several fields.
He added that Azerbaijan is ready to export agricultural products such as wheat, vegetables and fruits, as well as some industrial products to the Kingdom.
Azerbaijan has imported huge quantities of Saudi petrochemicals in the past years, he said.
He also noted that the tourism sector in Azerbaijan is considered among the significant investment and economic sectors, lauding that 35,000 tourists from Saudi Arabia visited Azerbaijan last year.
He noted that Baku wants to increase trade exchange and investment cooperation, which recorded $17 million last year, adding that Azerbaijan government will offer privileges to investors and exemptions from taxes.
Abdullayev discussed with Council of Saudi Chambers Chairman Ahmed al-Rajhi possible ways to foster trade and investment cooperation.
Rajhi asserted that the Saudi business sector is interested in
exploring investment opportunities in Azerbaijan.
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