Azerbaijan and the UAE are discussing ways to develop economic cooperation
By Narmina Mammadova
Azerbaijan and the United Arab Emirates are discussing the expansion of joint investments, as well as the ways of developing economic cooperation, the Arab media outlets reported on October 11.
This issue was discussed during the meeting between Ambassador of Azerbaijan to the United Arab Emirates Dashgin Shikarov and Director General of the Abu Dhabi Chamber of Commerce and Industry Mohammad Helal Al Muhairi.
“Strong trade and economic ties between Azerbaijan and the United Arab Emirates can be expanded by updating investors in Abu Dhabi about investment opportunities in Azerbaijan, especially in the areas of industry, tourism, health care and education,” Al Muhairi added.
In turn, Shikarov also urged UAE businessmen to invest in Azerbaijan, especially in such fields as tourism, infrastructure and transport.
He stressed that in December, the trade delegation from Azerbaijan intends to visit Abu Dhabi.
There has been fruitful and trustful collaboration between Azerbaijan and the UAE for more than 25 years. The two countries are keen to deepen economic cooperation.
To date, more than 250 companies from the UAE work in Azerbaijan.
The UAE-Azerbaijan Joint Economic Committee previously said both countries were to focus on nine key areas for bilateral cooperation, including air transport, tourism, communications, environment, water, agriculture, renewable energy, modern technology and industry.
Azerbaijan mainly imports high-tech products, electronics, industrial goods and building materials from the UAE and exports to the UAE fruits, juices, nuts, metal semi-finished products and so on.
According to the Azerbaijani State Customs Committee, the trade turnover between Azerbaijan and the UAE amounted to $28.457 million in January-July 2018, which is 67 percent more than in the same period of 2017.
At the same time, exports from Azerbaijan to the UAE amounted to $12.317 million (an increase of 58.8 percent), while imports - $16.139 million (by 73.8 percent).
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