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8/14/24, 4:54 PM UAE, Azerbaijan agree to step up bilateral economic, trade ties - Arabian Business: Latest News on the Middle East, Real Estate, Fi…
The decisions, arrived at during the ninth session of the UAE-Azerbaijan Joint
Intergovernmental Commission (JIC) for Economic, Trade and Technical Cooperation, held

in the Azerbaijani city of Shusha, also include providing comprehensive support for
exporters and importers to facilitate and enhance the exchange of goods and services, as

well as to diversify them.

The meeting was chaired by Abdullah bin Touq Al Marri, Minister of Economy; and his
Azerbaijani counterpart Mikayil Jabbarov.

The agreements to further strengthen bilateral trade ties are particularly significant given

that the UAE serves as a vital trade gateway, facilitating the movement of Azerbaijani
exports to regional markets.

The meeting also explored promising investment opportunities in the food and

manufacturing industries and sought to create new communication channels between the
two business communities.

The two sides also explored the potential for implementing tailored programmes and
initiatives to boost the growth of startups in both markets.

Both countries also agreed on the importance of motivating SME owners and
entrepreneurs to invest in new economy sectors, thereby increasing their contributions to

the GDP of both nations.

The UAE and Azerbaijan expressed their interest in organising joint tourism exhibitions,

events, and conferences to highlight the key tourism and historical attractions of both
countries and to leverage their diverse tourism offerings.

The collaboration is expected to boost tourism inflows from across the globe, particularly

given that there are over 185 flights connecting the two destinations every month,
operated by the UAE’s national carriers.

Both sides also discussed ways to strengthen collaboration in the areas of digitalisation,

innovation, and technology.

The joint council meeting also explored the means to strengthen cooperation in food
security and agriculture through increased trade in food products as well as agricultural

and livestock goods.

The two sides also reviewed the latest trends in the agricultural sector.

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