Baku. Malahat Najafova – APA. Today, the 4th meeting of joint commission on economic, commercial and technical cooperation between the United Arab Emirates an Azerbaijan was held in Dubai.
According to abudhabicityguide.com site, the meeting was opened by the UAE and Azerbaijan’s Economic Ministers Sultan Bin Saeed Al Mansoori and Shahin Mustafayev.
Existing potential for development of economic collaboration, economic and commercial links were discussed at the meeting.
“The business and other organizational relations between two countries have created an ideal condition for commercial cooperation. The UAE is interested in establishment of relevant institutions to strengthen the economic links with Azerbaijan and the meetings of jointly economic commission help to understand the requirements of investors of both sides”, said Sultan Bin Saeed Al Mansoori.
The Minister also noted that both countries achieved serious progress on cooperation in the sphere of transport, education, health, customs, industry, agriculture, good production, oil and gas.
The trade turnover between Azerbaijan and the UAE rose 57%. At present, the UAE’s 122 companies operate in Azerbaijan. The trade turnover in 2011 made $300 mln and this increased by 24% in 9 months of 2012. The UAE invested $200 mln in Azerbaijan.
At the end of meeting, the ministers signed a final protocol and Memorandum of Understanding on establishment of United Business Council.
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