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In 2023, the value of non-oil trade between the two countries surpassed US$1.64 billion (AED6
billion), reflecting an impressive growth of 68 percent compared to that of 2022.
Preliminary figures also suggest a rise in non-oil trade between the two countries during the
period from January to April 2024, which has reached $617 million (AED2.3 billion), reflecting a
62 percent growth compared to the same period in 2023.
The UAE’s investments in Azerbaijan are estimated at $1.1 billion by the end of 2022, which
makes the UAE the largest Arab and seventh largest global investor in Azerbaijan. Meanwhile,
Azerbaijani investments in the UAE amounted to over $210 million as of the end of 2021.
https://en.aletihad.ae/news/uae/4504375/uae--azerbaijan-agree-to-develop-economic-
partnership
