(MENAFN- AzerNews) By Ayya Lmahamad
The trade turnover between Azerbaijan and the United Arab
Emirates has increased by 2.5 times in January-October 2022,
compared to the same period last year, Labour and Social Protection
Minister Sahil Babayev said.
He made the remarks at the event organized by the UAE embassy on
the occasion of the 51st National Day of the country, Azernews
reports.
Noting that to date more than 30 documents on cooperation
between the two countries have been signed, the Minister added that
the trade mission of Azerbaijan has been operating in Dubai since
2017 and Azerbaijan Trade House since 2019.
Moreover, Sahil Babayev noted the important role of the joint
intergovernmental commission on economic, trade, and technical
cooperation between Azerbaijan and the UAE in developing
cooperation in various sectors.
The minister pointed out that Azerbaijan was one of the first
countries to support the international exhibition Dubai Expo 2020.
In this regard, he mentioned that at the expo, Azerbaijan was
represented in a large pavilion with the theme“Seeds of the
Future”.
Touching upon the large-scale reconstruction and construction
work carried out in Azerbaijan's liberated lands, he spoke about
the participation of the UAE companies in this process.
In addition, he expressed confidence that the UAE business
circles would be interested in participating in the projects
implemented in the Alat Free Economic Zone.
Sahil Babayev also expressed hope that relations between the two
countries will continue to develop on the basis of joint
efforts.
For his turn, UAE Ambassador Mohammed Al Blushi spoke about the
history of the formation and development of the UAE. He emphasized
that the relations between Azerbaijan and the UAE are constantly
expanding.
The diplomatic relations between Azerbaijan and the United Arab
Emirates were established on September 1, 1992. The trade turnover
between the two countries amounted to $50.4 million in 2021.
Last year, Azerbaijan and the UAE signed agreements on pilot
projects in renewable energy. Under the agreement, the building of
a 230-MW solar power plant is envisaged. On March 15, a
groundbreaking ceremony for the 230 MW Garadagh solar power plant,
to be constructed by the United Arab Emirates Masdar company, was
held in Baku's Gulustan Palace.
--
Ayya Lmahamad is AzerNews' staff journalist, follow her on
Twitter: @ayyalmahamad
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Tags: azerbaijan cooperation trade turnover sahil babayev united arab emirates (uae)