By Amina Nazarli
Cooperation between Azerbaijan and the United Arab Emirates will be in spotlight in Baku, as a joint business forum is scheduled for October 20.
The UAE companies specializing in agriculture, food industry, construction, pharmaceutical industry, logistics, tourism, security, production of fire alarm systems, and beauty industry will attend the forum, according to AZPROMO,
Azerbaijan and UAE enjoy fruitful cooperation in various fields and their mutual relations are developing both in the political, economic and cultural fields with ascending line. The diplomatic relations between the two countries were established in 1992.
The trade turnover between the UAE and Azerbaijan in January-August amounted to $55.66 million, and this is 35.4 percent more than during the eight months of 2015, according to the Azerbaijani State Customs Committee.
Almost the entire volume of the turnover accounted for import of products from the UAE.
Earlier speaking about the Azerbaijani-UAE relations, Economy Minister of Azerbaijan Shahin Mustafayev said that for seven months of 2016 the trade turnover with the UAE has grown by more than 40 percent.
“This is a very good result, considering that the processes occurring in the world do not contribute to the development of trade between the countries,” Mustafayev said, emphasizing that Azerbaijan and the UAE are working to improve these indicators.
Recently, the two countries agreed to establish a joint investment fund to facilitate the implementation of joint investment in mutually beneficial projects. It is important to carry out investments in the areas that stimulate the growth of mutual investments and increase trade, particularly in agriculture, food processing, logistics and transport systems.
Starting November 10, 2015, citizens of the UAE has visited Azerbaijan on a simplified procedure. They can obtain entry visa, valid for 30 days’ stay, at any international airport in Azerbaijan. Now, Azerbaijan is holding negotiations to introduce a visa-free regime for citizens of both the UAE and Azerbaijan.