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  • Updated 20.11.2019 11:10
  • Created 13.11.2019 15:00

Meeting of the Azerbaijan-UAE Joint Intergovernmental Commission was held 

 

A delegation led by Minister of Economy of the United Arab Emirates (UAE) Sultan bin Saeed Al Mansouri paid tribute to the memory of the heroes who died for the independence and territorial integrity of our country and laid a wreath at the “Eternal flame” in the Alley of Martyrs.

Then a meeting was held between the Minister of Economy of Azerbaijan, Co-Chairman of the Joint Intergovernmental Commission on Economic, Trade and Technical Cooperation between the Government of the Republic of Azerbaijan and the Government of the United Arab Emirates Mikayil Jabbarov and the Minister of Economy of the UAE, Co-Chairman of the Commission Sultan bin Saeed Al Mansouri.

At the meeting, the Minister of Economy Mikayil Jabbarov said that Azerbaijan-UAE political relations are at a high level, the relations are based on the principles of mutual friendship and respect, and the political will of the heads of the both countries plays an important role in the development of cooperation. It was noted that Azerbaijan and the UAE are also successfully cooperating within international organizations.

The Minister of Economy of Azerbaijan noted that the necessary contractual legal basis was established between the two countries and more than 30 documents were signed in various fields. Mikayil Jabbarov noted that the UAE has invested US$ 2.2 billion in the Azerbaijani economy and over US$ 350 million from Azerbaijan to the UAE, underlining the importance of investment cooperation in bilateral relations. It was noted that more than 340 UAE companies are registered in industrial, construction, trade, agricultural, communications, transport, service and other sectors in Azerbaijan. In 2018, the trade turnover between our countries increased by 38%. The growth trend continued for the first 9 months of this year, with an increase of 22.5%.

Minister of Economy Mikayil Jabbarov stressed the importance of the activities of the Trade Representative and Trade House of the UAE in terms of expanding economic relations between the two countries, underlining the importance of further expansion of the trade volume and diversification of the structure, noting the great potential for the development of cooperation in this field.

Minister of Economy of the United Arab Emirates Sultan bin Saeed Al-Mansouri noted that his country is interested in developing relations with Azerbaijan underlining the role of meetings in defining new areas of cooperation.

Discussions were held on ways to expand cooperation in energy, industry, transport and transit, agriculture, food security, ICT, trade, investment, finance, customs, small and medium business, tourism, humanitarian and other fields.

On the same day, the 7th meeting of the Joint Intergovernmental Commission on Economic, Trade and Technical Cooperation was held between the Government of the Republic of Azerbaijan and the Government of the United Arab Emirates.

The Minister of Economy of Azerbaijan, Co-Chairman of the Joint Intergovernmental Commission Mikayil Jabbarov stressed the importance of business meetings, exhibitions and fairs in the development of bilateral economic cooperation. It was noted that so far, export missions have been organized to Dubai, Abu Dhabi and Sharjah, and the Azerbaijani pavilion has been opened at the annual “Global Village” exhibition in Dubai. Azerbaijani companies are also expected to participate in “Dubai EXPO-2020”.

Speaking about the reforms carried out in Azerbaijan, Mikail Jabbarov underlined that the successful results of economic reforms and systematic measures are highly appreciated by international organizations. It is no coincidence that Azerbaijan ranked 34th among 190 countries in the World Bank's “Doing Business 2020” report entering the list of top 20 reformer countries and took the 58th place among 141 countries in the World Economic Forum's 2019’s Global Competitiveness Report moving ahead by 11 steps.

At the meeting of the Commission, the Minister of Economy of Azerbaijan also informed the participants about the favorable business and investment climate created in our country, encouraged the UAE investors to take advantage of the existing investment promotion mechanisms, invest in industrial zones and agro-parks, and implement joint projects. Mikayil Jabbarov noted that Azerbaijan is located at the crossroads of international transport corridors underlining the great potential of cooperation between the two countries in the field of transport and transit.

Minister of Economy of the United Arab Emirates, Co-Chair of the Joint Intergovernmental Commission Sultan bin Saeed Al Mansouri expressed his satisfaction with his visit to Azerbaijan and underlined the great development of our country. The Co-Chair of the Commission informed about the UAE economy, noted the successful cooperation between the two countries in many areas and shared his views on ways to expand the partnership.

The Parts discussed the ways of expanding economic and trade cooperation at the meeting.

At the end of the meeting, the Government of the Republic of Azerbaijan and the Government of the United Arab Emirates signed a Protocol on the outcomes of the 7th meeting of the Joint Intergovernmental Commission on Economic, Trade and Technical Cooperation. The document was signed by the Co-Chairs of the Joint Intergovernmental Commission - Minister of Economy of Azerbaijan Mikayil Jabbarov and Minister of Economy of the United Arab Emirates Sultan bin Saeed Al Mansouri. The document covers the expansion of cooperation in the field of trade, investment, industry, energy, agriculture, food security, environment, transport, communications and high technology, innovation and digitalization, tourism, culture, education and so on.

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