Qatar discusses directions of investments in Azerbaijan
By Amina Nazarli
Azerbaijan and Qatar have considered the establishment of a joint investment fund.
The discussion was made at a meeting between a delegation led by Chairman of Barwa Bank of Qatar Sheikh Mohammed and Azerbaijani officials, including deputy head of the presidential administration, chief of the Administration's Foreign Relations Department Novruz Mammadov, Minister of Economy Shahin Mustafayev, Executive Director of Azerbaijan's State Oil Fund Shahmar Movsumov, as well as top management of SOCAR, Baku International Sea Trade Port, Azerbaijan Export and Investment Promotion Foundation (AZPROMO), Azerbaijan Investment Company, Khazar International Investment Company, Pasha Holding, Gilan Holding and Synergy Group, the Azerbaijani Economy Ministry reported.
The meeting participants discussed prospects for making investment in Azerbaijan's real estate sector, construction of hotels and shopping centers, and cooperation in the field of logistics and agriculture.
The Qatari delegation was provided with detailed information on Azerbaijan's economy, as well as the reconstruction of roads as part of the East-West and North-South corridors, construction of Baku-Tbilisi-Kars railway, commissioning of the international airports, construction of the International Sea Trade Port and establishment of a special economic zone with free trade regime.
Sheikh Mohammed highlighted his country's economy, and shared his views on mutual investment making.
Political stability in Azerbaijan, strong economic potential, favorable business and investment climate, as well as mechanisms of state support to entrepreneurs open wide opportunities for foreign investors and further increase the investment attractiveness of the country.
More than $230 billion have been invested in the Azerbaijani economy since the country gained independence, half of which are accounted for foreign investments. Azerbaijan is an attractive country for foreign investments, including for Qatari.
Earlier, the establishment of a joint investment fund was high on agenda during a meeting between Azerbaijan’s Economy Minister Shahin Mustafayev and Qatari Ambassador to Baku Youssef Hassan Youssef Al Saai this January.
Following the establishment of diplomatic relations in 1994, the key directions of cooperation between Azerbaijan and Qatar have been determined as ties in the field of investment, the exchange of experience in the field of oil and gas, and supply of the Azerbaijani agricultural goods to the Qatar market.
Azerbaijan and Qatar have established successful economic cooperation, held joint business forums, business meetings. This February, within the framework of the export mission of Azerbaijani businessmen to Qatar, a number of agreements were reached, in particular, on supplies of street and garden furniture.
During January-April, 2017, the trade turnover between the two countries showed a serious growth. For first four months of this year export operations grew by 177.6 times compared to the indicator a year earlier, and import increased by 94.4 percent, according to the State Customs Committee of Azerbaijan.
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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli
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