Azerbaijan, UAE Assess Prospects For Expanding Trade And Economic Cooperation

2025-02-03 03:11:48

(MENAFN- Trend News Agency) BAKU, Azerbaijan, February 3. Azerbaijan and the United Arab Emirates (UAE) have explored potential cooperation opportunities in trade, investment, energy, agriculture, and finance sectors, the country's Economy Minister Mikayil Jabbarov said in a post on his X page, Trend reports.

"We had the pleasure of meeting Mohamed Hassan Alsuwaidi, the Minister of Investment of the United Arab Emirates, Managing Director, and Group CEO of ADQ.

We explored opportunities for collaboration in trade, investments, energy, agriculture, and finance to further strengthen the economic partnership between our countries. Our discussions also focused on the operations of the Joint Investment Fund and investments in key priority areas," the post reads.

Notably, trade between Azerbaijan and the UAE totaled approximately $96.8 million last year, which marks a decrease of $36.4 million or 27.3 percent compared to 2023.

Additionally, Azerbaijan conducted trade operations worth nearly $47.6 billion with 180 countries in 2024, which represents a 7 percent decrease compared to the previous year. Exports accounted for $26.5 billion, while imports were around $2.6 billion.

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