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UAE And Azerbaijan Commit To Strengthening

Economic Partnership For Sustainable Growth

By OneArabia

Published: Thursday, August 1, 2024, 17:48 [GST]

The ninth session of the UAE-Azerbaijan Joint Intergovernmental Commission (JIC) for
Economic, Trade and Technical Cooperation took place in Shusha, Azerbaijan. The meeting was
chaired by Abdullah bin Touq Al Marri, Minister of Economy, and his Azerbaijani counterpart
Mikayil Jabbarov. Senior officials and representatives from both governments and private
sectors attended the session.

During the meeting, both nations agreed to enhance their economic partnership across various
sectors. These include entrepreneurship, SMEs, tourism, aviation, industry, innovation,
technology, agriculture, food security, logistics, culture, energy, renewable energy and
investment. Bin Touq highlighted that the UAE and Azerbaijan have strong strategic relations
that have evolved over three decades.

"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," said Bin Touq.

Bin Touq reviewed the UAE’s business environment improvements during the meeting. Notably,
amendments to the Commercial Companies Law now allow 100 percent foreign ownership. This

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