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8/14/24, 4:54 PM UAE and Azerbaijan deepening cooperation, unlocking opportunities in trade, tourism, and renewable energy - Economy Middle East
UAE and Azerbaijan deepening cooperation, unlocking opportunities in trade, tourism, and renewable
energy
The two countries agreed to develop economic partnership

The UAE is the largest Arab and 7th largest global investor in Azerbaijan, with $1.1 billion in investments by 2022. (Photo
Credit: WAM)
The ninth session of the UAE-Azerbaijan Joint Intergovernmental Commission (JIC) for Economic,
Trade and Technical Cooperation between the two countries was held in the Azerbaijani city of
Shusha, chaired by Abdullah bin Touq Al Marri, Minister of Economy; and his Azerbaijani
counterpart Mikayil Jabbarov. The session was attended by several senior officials and government
and private sector representatives from both sides.
Strengthening economic partnerships
During the meeting, the UAE and Azerbaijan agreed to develop their existing economic partnership
in the sectors of entrepreneurship, SMEs, new economy, tourism, aviation, industry, innovation,
technology, agriculture, food security, logistics, culture, energy, renewable energy and investment.
Long-standing strategic relations
Bin Touq stated that the UAE and Azerbaijan share strong strategic relations and economic
partnerships that have evolved over more than three decades. These relations are characterised by
the frequent exchange of high-level visits between the two countries. The most recent of them was
the visit of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to Azerbaijan last
January, during which, MoUs were signed between the two countries in areas of mutual interest.
Advantages of UAE’s business environment
During the meeting, Bin Touq reviewed the opportunities and advantages offered by the UAE’s
business environment, most notably the amendments made to the Commercial Companies Law to

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