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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 strengthening of cooperation and investment exchanges in the energy and renewable
energy sectors was another major area of focus.

The JIC session further explored prospects for partnerships to launch new projects,

particularly in power generation, and for organising workshops for experts from both
countries on energy efficiency improvement.

Bin Touq said the latest JIC session was a key milestone in strengthening the economic ties

between the UAE and Azerbaijan.

“The meeting discussed several vital economic sectors that have the potential to drive the
sustainable development of both economies.

“We are keen to work closely with our Azerbaijani partners to open up new avenues for

collaboration and create diverse opportunities in various sectors, thereby supporting the

sustainable growth of both economies,” he said.

The UAE is Azerbaijan’s number one trading partner in the Arab world, accounting for 40
percent of its trade with the region.

In 2023, the value of non-oil trade between the two countries surpassed $1.64 billion (AED

6 billion), reflecting an impressive growth of 68 percent compared to that of 2022.

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