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Baku hosts Azerbaijan-UAE intergovernmental commission meeting

03 May 2011 09:53 (UTC +04:00)

The co-chairmen of the commission are Azerbaijani Economic Development Minister Shahin Mustafayev and UAE Economy Minister Saeed Al Mansouri.

Delivering speech at the event Shahin Mustafayev spoke about development of Azerbaijani economy, said that in 2004-2010, GDP rose 3 times, non-oil sector â€“ 2 times, main capital investments 2.9 times, state budget incomes â€“ 9.3 times, foreign trade turnover â€“ 5.4 times, strategic currency reserves â€“ 18.2 times, poverty level decreased by 4.9 times. Mustafayev noted that at present, countryâ€™s strategic currency reserves outstripped $34 bn.

To him, Azerbaijan gives special attention to relations with foreign countries, as well as UAE.

Mansouri said that UAE was interested in enhancing of cooperation with Azerbaijan and that both countries had great potential for it.

Current state and perspectives of cooperation in trade, investment, industry and power engineering, customs, transport, communications, agriculture and other spheres is being discussed at the meeting.

Agreement on cooperation and mutual aid on customs sphere between the government of both countries and protocol on outcomes of the meeting are considered to sign at the end of the meeting.