Baku hosts meeting of Azerbaijan-Saudi Arabia intergovernmental commission - UPDATED

Baku hosts meeting of Azerbaijan-Saudi Arabia intergovernmental commission - <span style="color: red;">UPDATED
# 11 December 2013 09:22 (UTC +04:00)

According to APA-Economics, opening the event, Co-chair of the Commission, Minister of Economy and Industry Shahin Mustafayev said that diplomatic relations between two countries were established 21 years ago. According to Azerbaijan and Saudi Arabia have signed 10 documents so far: “Today, 6 Saudi Arabian companies operate in Azerbaijan. Trade turnover between these countries makes $ 368 mln”.

The minister noted that Saudi Development Fund allocated funds to reconstruction of water and sewerage system of khirdalan city: “$35 mln wil be spent to it and implementation of the project will start next year”.

Co-chair of the commission, Governor of Saudi Arabian General Investment Authority Abdullatif bin Ahmed Al Othman noted that his country has always supported Azerbaijan in the international events, as well as the Organization of Islamic Conference: “economic relations between Azerbaijan and Saudi Arabia is not at the desired level. Our countries signed several documents and will eliminate double taxation”.

At the end, Azerbaijani and Saudi Arabian governments signed a protocol on the results of the 3rd meeting of commission. The document has been signed by Sh. Mustafayev and Abdullatif bin Ahmed Al Othman.

According to protocol, it’s considered to extend cooperation between two countries on economic-commercial and investment, industry, energy, agriculture, bank and finance, culture and tourism, security, sport and youths, science and education, health, press and etc. spheres.