Azerbaijani business invited to participate in Saudi Arabia's non-oil sector
By Rashid Shirinov
Another business forum is expected to be held in Baku in June within the meeting of the Azerbaijani-Saudi Intergovernmental Commission on cooperation in economy, trade, investment, technology, culture, sports and youth, Azerbaijan’s Economy Minister Shahin Mustafayev said on March 31.
He made the remarks at a meeting with Saudi Ambassador to Azerbaijan Musaid Ibrahim Abdullah As-Suleym.
“The high level of political relations creates favorable conditions for the expansion of economic cooperation between the two countries,” the minister said, stressing the importance of the official visit of Azerbaijani President Ilham Aliyev to Saudi Arabia last year and the talks held there for the development of relations between the two countries.
Mustafayev noted that relations between the business circles of Azerbaijan and Saudi Arabia are also successfully developing, and with the aim to further expand the economic cooperation, business forums were organized in Baku and Riyadh, as well as an export mission to Saudi Arabia in December 2017.
“Companies from Saudi Arabia invest in the economy of Azerbaijan, and there is a successful financial cooperation with the Saudi Fund for Development in the areas of reconstruction of water supply and sewage systems, construction of schools, roads and canals,” the minister added.
He further said that the number of tourists arriving in Azerbaijan from Saudi Arabia has also increased significantly in recent years, and the opening of a direct flight may be important in expanding cooperation in this area.
The minister also thanked Saudi Arabia for its just position on the issue of the Armenia-Azerbaijan Nagorno-Karabakh conflict. Musaid Ibrahim Abdullah As-Suleym, in turn, stressed that his country constantly supports Azerbaijan’s just position on the conflict, and that Azerbaijan will return its occupied lands in the near future.
The parties also exchanged views on investment, tourism and implementation of joint projects. The Saudi ambassador provided information on the ongoing non-oil projects in Saudi Arabia and invited Azerbaijani businessmen to active cooperation.
Saudi Arabia was one of the first countries to recognize the independence of Azerbaijan in 1991.The diplomatic relations between the two countries were established in 1992. The Azerbaijani Embassy in Riyadh was opened in 1994, and since 1999, the embassy of Saudi Arabia has been operating in Baku.
Over the past years, the bilateral economic relations have strengthened and expanded with the increased interest in investment. Currently, several companies of Saudi Arabia operate in various fields in Azerbaijan.
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Rashid Shirinov is AzerNews’ staff journalist, follow him on Twitter: @RashidShirinov
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