Page 544 - MOE ENGLISH PR REPORT - AUGUST 2024

8/14/24, 2:51 PM PRESSR: UAE and Azerbaijan agree to develop economic partnership in the sectors of entrepreneurship, tourism, new economy, t…
the ‘UAE Circular Economy Agenda 2031.’ The agenda is key to enhancing

sustainability in the country’s development journey through the next decade.

In detail, both parties agreed to establish joint work teams consisting of
members from relevant entities from both sides to explore further opportunities

for economic collaboration in priority sectors at both government and private

sector levels. They will also provide comprehensive support for exporters and

importers to facilitate and enhance the exchange of goods and services, as well

as to diversify them. This is particularly significant given that the UAE serves as

a vital trade gateway, facilitating the movement of Azerbaijani exports to
regional markets. The meeting also explored promising investment

opportunities in the food and manufacturing industries and sought to create

new communication channels between the two business communities.

Entrepreneurship and SMEs

The UAE and Azerbaijan explored the potential for implementing tailored

programs and initiatives to boost the growth of startups in both markets. The

discussions focused on enhancing investment opportunities and enabling exports

to access new markets. The two sides agreed on the importance of motivating
SME-owners and entrepreneurs to invest in new economy sectors, thereby

increasing their contributions to the GDP of both nations.

Tourism

The UAE and Azerbaijan expressed their interest in organizing joint tourism

exhibitions, events, and conferences to highlight the key tourism and historical

attractions of both countries and to leverage their diverse tourism offerings The

collaboration is expected to boost tourism inflows from across the globe,

particularly given that there are over 185 flights connecting the two
destinations every month, operated by the UAE's national carriers.

Digitalization and Innovation

https://www.tradingview.com/news/reuters.com,2024-08-01:newsml_Zaw4VbTk2:0-pressr-uae-and-azerbaijan-agree-to-develop-economic-partnership… 3/5