As part of the visit of the delegation led by Minister of Economy of Azerbaijan Mikayil Jabbarov to the Sultanate of Oman, a series of meetings were held to discuss opportunities for expanding economic and trade relations. A Shareholders’ Agreement was signed on the establishment of the Azerbaijan–Oman Direct Investment Fund.
During the visit, Minister Mikayil Jabbarov met with Oman’s Minister of Economy Said bin Mohammed bin Ahmed Al Saqri.
At the meeting, it was emphasized that the relations between Azerbaijan and the Sultanate of Oman are at a high level, supported by over 30 years of diplomatic ties, strong Islamic solidarity, and mutual trust.
The importance of further strengthening economic relations and expanding the legal-contractual framework for bilateral cooperation was noted. The role of establishing the Azerbaijan-Oman Joint Business Council and the Working Group on Investment Cooperation in advancing economic collaboration was highlighted.
The parties underlined the significant potential for developing trade and investment ties and the importance of deepening cooperation in this direction. Information was shared about the investment opportunities in Azerbaijan, including those in the liberated territories, the Alat Free Economic Zone, and other industrial zones, as well as the incentives available for business development. It was noted that the Karabakh and East Zangazur economic regions have been declared green energy zones. The large-scale reconstruction and development projects, the implementation of major initiatives, and the expansion of transport and logistics capabilities are playing a vital role in the region’s development.
It was stressed that Azerbaijan’s location at the crossroads of the East–West and North–South transport corridors has turned the country into a regional trade and logistics hub, creating additional opportunities for the Azerbaijan–Oman economic cooperation.
The meeting also explored opportunities to strengthen economic ties, realize the potential for trade and investment cooperation, and promote joint activities in the fields of energy, industrial zones, tourism, small and medium-sized businesses (SMEs), and transit.
As part of the visit, Minister Mikayil Jabbarov also met with Oman’s Minister of Finance and Chairman of the Oman Investment Authority Sultan bin Salem Al Habsi, as well as the Authority’s President Abdulsalam bin Mohammed Al Murshidi.
The discussions focused on the current state of economic cooperation between the two countries and opportunities for deepening the partnership. The parties considered the possibilities for enhancing cooperation mechanisms to promote mutual investments, expand joint investment activities at the regional level, and strengthen business ties.
During the meeting, a Shareholders’ Agreement was signed between the Oman Investment Authority and the Azerbaijan Investment Holding to establish the Azerbaijan–Oman Direct Investment Fund.
The operation of the Joint Fund is expected to strengthen bilateral investment cooperation and contribute to the economic development of both countries by implementing strategic investment projects in various sectors, including the food industry, healthcare, renewable energy, consumer goods, and logistics in Azerbaijan, Oman, Central Asia, and other countries.
The Fund’s initial capital has been set at 200 million USD, with 100 million provided by the Azerbaijan Investment Holding and 100 million by the Oman Investment Authority.
At the signing ceremony for the establishment of the Azerbaijan–Oman Direct Investment Fund, it was noted that the cooperation between Azerbaijan and the Gulf Cooperation Council member states has expanded significantly in recent years. Azerbaijan, as a gateway to the Caspian and Central Asia region, and Oman, with its strong ties to the Gulf and African regions, are forming a new economic synergy through their partnership.
It was emphasized that the Fund’s operation, through coordination of the experience and capabilities of the two countries' sovereign investment institutions, will facilitate the implementation of successful projects.
