Azerbaijan, UAE to hold business forum
By Aynur Jafarova
The next business forum of Azerbaijan and the United Arab Emirates (UAE) will be held as part of the joint intergovernmental commission on trade, economic, and technical cooperation.
The news was announced by Azerbaijani Economy and Industry Minister Shahin Mustafayev at a meeting with Deputy Chairman of Dubai Chamber of Commerce and Industry Hisham Al Shirawi.
During the meeting, the sides discussed the current state of relations and prospects for cooperation between the two countries.
The minister praised political relations between Azerbaijan and the UAE, and said political relations, legal framework, and fruitful activities of the Intergovernmental Commission have paved the way for developing economic cooperation.
"Trade and economic ties between Azerbaijan and the UAE are expanding. Opening the Dubai Chamber of Commerce and Industry in Baku is a strong signal of cooperation between the two countries," the minister noted.
Mustafayev also said there were ample cooperation opportunities for developing infrastructure, trade, agriculture, and investment between both countries.
The minister said thanks to the socio-economic policy implemented in Azerbaijan, the country's international prestige had increased and it had built the image of a reliable partner for itself.
Al Shirawi, in turn, said the UAE attaches great importance to cooperation with Azerbaijan.
He also spoke about a series of events and exhibitions in Dubai, adding that attending those events would create great opportunities for Azerbaijani businessmen to build new business relations and get access to the Middle East markets.
The Dubai Chamber of Commerce and Industry, an entity engaged in developing business environment and protecting the business interests of the UAE, organized a roundtable on the development of retail and franchising in partnership with Azerbaijan Investment Promotion Foundation (AZPROMO) on April 21.
Diplomatic relations between Azerbaijan and the UAE were established on September 1992.
Azerbaijan and the UAE are cooperating within the framework of the UN, the Islamic Conference Organization, and other influential regional and international organizations.
The UAE supports Azerbaijan's fair position on the Armenia-Azerbaijan Nagorno-Karabakh conflict.
More than 20 agreements on cooperation in various economic spheres have been signed with the Emirates. Currently, about 200 companies from the UAE are operating in Azerbaijan, and the country has invested more than $465 million in this Caspian nation in recent years.