Page 49 - MOE ENGLISH PR REPORT - AUGUST 2024

Press Release

UAE and Azerbaijan agree to develop economic partnership in the

sectors of entrepreneurship, tourism, new economy, technology,
innovation and agriculture

• UAE is Azerbaijan’s number one Arab trading partner, accounting for
40% of its trade with the region

Abu Dhabi, 1 August 2024:

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 H.E. Abdulla bin Touq Al Marri, Minister of Economy; and his
Azerbaijani counterpart H.E. Mikayil Jabbarov. The session was attended by several senior
officials and government and private sector representatives from both sides.

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.

H.E. 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 characterized by
the frequent exchange of high-level visits between the two countries. The most recent of them was
the visit of H.H. Sheikh Mohammed bin Zayed Al Nahyan, the President of the UAE, to Azerbaijan
last January, during which, MoUs were signed between the two countries in areas of mutual
interest.

H.E. said: "The latest JIC session is 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.”

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