Azerbaijan and the United Arab Emirates (UAE) have signed a new economic cooperation agreement aimed at strengthening bilateral ties and expanding joint investments in the energy sector, Azernews reports, citing a post by Azerbaijan's Minister of Economy, Mikayil Jabbarov, on his official X account.

“As part of our business visit to the United Arab Emirates, we signed a new cooperation agreement between the Azerbaijan Ministry of Economy and XRG, the investment platform of ADNOC, together with my counterpart, the UAE's Minister of Industry and Advanced Technology, Dr. Sultan Ahmed Al Jaber,” Jabbarov wrote.

He noted that the agreement will expand the partnership between SOCAR and XRG in the natural gas production sector, focusing on energy supply diversification.

According to Jabbarov, the agreement holds strategic importance for strengthening economic relations between Azerbaijan and the UAE, attracting new investments into Azerbaijan's energy infrastructure, diversifying national revenues, and reinforcing Azerbaijan's role as a reliable energy partner.

MENAFN03112025000195011045ID1110286498