Azerbaijan-UAE trade volume more than doubles in January-October [PHOTO]


Azerbaijan-UAE trade volume more than doubles in January-October [PHOTO]

Aya Mahmad

Minister of Labor and Social Protection Sahir Babayev said that the trade volume between Azerbaijan and the United Arab Emirates increased by 2.5 times in January-October 2022 compared to the same period last year.

He made the remarks at an event organized by the UAE embassy to celebrate the country’s 51st National Day, Azernews reported.

The minister noted that more than 30 cooperation documents have been signed between the two countries so far and Azerbaijani trade missions have been operating in Dubai since 2017 and since 2019.

In addition, Sahir Babayev noted the important role of the Azerbaijan-UAE Intergovernmental Joint Committee on Economic, Trade and Technical Cooperation in developing cooperation in various fields.

The minister noted that Azerbaijan was one of the first countries to support the Expo 2020 Dubai International Exhibition. In this regard, he mentioned that at the Expo, Azerbaijan represented a large pavilion on the theme “Seeds for the Future”.

Referring to the massive reconstruction and construction work being carried out on the liberated lands of Azerbaijan, he spoke of the involvement of Emirati companies in the process.

In addition, he expressed confidence that the Emirati business community will be interested in participating in projects implemented in the Alat Free Economic Zone.

Babayev also expressed the hope that the relations between the two countries will continue to develop on the basis of joint efforts.

It was the turn of UAE Ambassador Mohammed Al Blushi to talk about the history of the formation and development of the UAE. He stressed that the relations between Azerbaijan and the UAE are constantly expanding.

Azerbaijan and the United Arab Emirates established diplomatic relations on September 1, 1992. In 2021, the trade volume between the two countries will reach 50.4 million US dollars.

Last year, Azerbaijan and the UAE signed an agreement for a pilot project on renewable energy. Under the agreement, a 230 MW solar power plant is envisaged. On March 15, the groundbreaking ceremony of the 230MW Galadag solar power plant undertaken by the UAE Masdar Company was held at the Gurustan Palace in Baku.

Ayya ​​Lmahamad is a staff reporter for AzerNews, follow her on Twitter: @AyyaLmahamad

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